The bill establishes the Vermont Prescription Drug Discount Card Program, which will be administered by the Office of the State Treasurer. The program aims to pool prescription drug purchasing power with other U.S. states, territories, and nongovernmental organizations to reduce costs, negotiate discounts, and centralize purchasing. It will be available to all Vermont residents, and any funds received through this program will be deposited into the Financial Literacy and Economic Empowerment Trust Fund to cover administrative costs. Additionally, the bill mandates that the amount paid for a prescription drug using the discount card will count towards the individual's deductible and out-of-pocket expenses under their health insurance plan.

The bill also amends existing laws to ensure that health insurers and pharmacy benefit managers account for any discounts or payments made on behalf of covered individuals when calculating out-of-pocket limits and deductibles. It requires that proof of payment forms be made available to individuals who purchase drugs without using their insurance coverage, ensuring that their expenses are properly attributed. Furthermore, the bill appropriates $50,000 from the General Fund for the program's development and implementation, with a report due by January 15, 2027, to evaluate the program's effectiveness and provide recommendations for improvement. The act is set to take effect on July 1, 2026.

Statutes affected:
As Passed By the House -- Official: 8-4093, 18-3612, 32-111
As Passed By the House -- Unofficial: 8-4093, 18-3612, 32-111
As Passed by Both House and Senate -- Official: 8-4093, 18-3612, 32-111
As Passed by Both House and Senate -- Unofficial: 8-4093, 18-3612, 32-111
As Enacted: 8-4093, 18-3612, 32-111