The bill titled "An Act to ensure access to prescription medications" aims to enhance transparency and fairness in the pricing of prescription drugs by pharmacy benefits managers (PBMs) and covered entities in Massachusetts. It introduces a new section to Chapter 176D, which establishes guidelines for the creation and management of a "maximum allowable cost list" for drugs, medical products, and devices. Key provisions include requirements for drugs to be rated as "A" or "AB" in the FDA's Orange Book before being placed on this list, the obligation to remove drugs that no longer meet these criteria within three business days, and mandates for PBMs to ensure that the maximum allowable cost is at least equal to the pharmacy's acquisition cost. Additionally, the bill outlines a process for pharmacies to contest drug pricing and requires PBMs to provide detailed information about their pricing decisions.

Furthermore, the bill amends Chapter 118E, Section 9B, to mandate that MassHealth Managed Care Organizations and Accountable Care Organizations reimburse pharmacies at rates specified in the MassHealth Pharmacy Provider Manual. It also empowers the Insurance Commissioner to enforce these provisions and conduct audits of PBMs to ensure compliance. The legislation prohibits retroactive discounts and ensures that pharmacies can disclose relevant healthcare information to patients without facing penalties. Overall, the bill seeks to improve access to affordable medications while promoting transparency in the pharmaceutical pricing process.