House Bill No. 1464 proposes the establishment of a prescription drug purchasing pool in Texas, aimed at allowing health benefit plan issuers, qualified public employers, and qualified private employers to purchase prescription drugs at discounted rates. The bill introduces Chapter 446 to the Health and Safety Code, defining key terms such as "health benefit plan issuer," "participant," "qualified private employer," and "qualified public employer." The comptroller is tasked with creating the purchasing pool and establishing eligibility criteria, enrollment procedures, and rules for administration.

Additionally, the bill allows for optional stop-loss coverage for participants and permits multiple employers to jointly purchase prescription drugs without constituting a multiple employer welfare arrangement. The comptroller is also required to adopt necessary rules for the implementation of this chapter. The act is set to take effect on September 1, 2025, and mandates the comptroller to establish the purchasing pool as soon as practicable after the effective date.

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