Pharmacy Costs Workgroup: Model Drug Price Transparency Legislation
Pharmaceutical prices are rising, driving up premiums and out of pocket costs. State budgets – that by law, have to be balanced– are reeling from high and unpredictable pharmaceutical price increases for Corrections, state employees and retirees, K-12 and public university employees, and, of course, Medicaid. To address rapidly rising prescription drug prices, purchasers and policy makers need to know why they are so high. Transparency has become the watchword and states are eager to advance proposals to achieve it. But transparency is not a silver bullet and laws need to be carefully constructed to give states and purchasers the information they need to fashion effective strategies to manage these budget pressures.
NASHP, with guidance from our Pharmacy Costs Workgroup, has developed a model transparency bill for states that wish to take a comprehensive approach to unlock the black box of prescription drug pricing and increase consumer awareness. States interested in this model legislation will have access to a legislator’s guide and additional background materials as they become available. Please contact email@example.com if you wish to receive this state-only material.