H.B. No. 1464 proposes the establishment of a prescription drug purchasing pool under a new Chapter 446 in the Health and Safety Code. This pool will allow health benefit plan issuers, qualified public employers, and qualified private employers to purchase prescription drugs at discounted rates negotiated by the Health and Human Services Commission. The bill defines key terms such as "health benefit plan issuer," "qualified public employer," and "qualified private employer," and clarifies that participation in the pool does not constitute a risk pool, meaning each participant remains responsible for their own claims and costs.

The bill outlines the administration of the purchasing pool, including eligibility criteria, enrollment procedures, and the option for participants to purchase stop-loss coverage. Additionally, it allows for joint purchasing agreements among multiple participants without classifying them as a multiple employer welfare arrangement. The Health and Human Services Commission is tasked with implementing the provisions of this act, which is set to take effect on September 1, 2025.

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