The bill H.202, introduced by Representative Cordes, aims to enhance transparency in prescription drug costs and spending in Vermont. It prohibits pharmacy benefit managers from charging covered individuals more than the National Average Drug Acquisition Cost plus a professional dispensing fee for prescription drugs. Additionally, pharmacies are required to post notices informing customers that they can request information about their price options, including cost-sharing amounts and maximum allowable costs. Hospitals participating in the federal 340B drug pricing program must report their participation annually to the Green Mountain Care Board, detailing their acquisition costs and how savings from the program benefit the community.

Furthermore, health insurers are mandated to provide annual reports to covered individuals, detailing the total amount spent on prescription drugs on their behalf, net of rebates and discounts. Covered entities in the 340B program must also notify patients if their prescribed drugs were purchased through this program. The bill includes specific provisions for reporting and disclosure, with an effective date set for July 1, 2025, and the first report due by July 1, 2026.

Statutes affected:
As Introduced: 18-3612