Eliseo Alcon voted Yea (Passage) on this Legislation.
Title: Authorizes Cost-Sharing Contributions for Prescription Drug
Signed by Governor Michelle Lujan Grisham
Title: Authorizes Cost-Sharing Contributions for Prescription Drug
Vote to pass a bill that authorizes cost-sharing contributions for prescription drugs.
Authorizes cost-sharing contributions for the following, at no charge to individuals beginning January 1, 2024, including (Sec. 1):
Prescription drugs or pharmacy services obtained at a non-affilaiated pharmacy; or
Adminstration of prescription drugs at different infusion provided that an insurer may communicate with an insured regarding lower-cost sites of service.
Prohibits insurers, beginning January 1, 2024 from requiring an insured make mayment at a point of sale for a covered prescription drug in an amount greater that of the following, including (Sec. 1):
Applicable cost-sharing amount for the prescription drug;
Amount an insured would pay for the prescription drug if the insured purchased the prescription drug without using a health benefits plan or any other souce of prescription drug benefits or discounts;
Total amount the pharmacy will be reimbursed for the prescription drug from the insurer, including the cost-sharing amount paid by an insurer; or
Value of the rebate from the manufacturer provided to the insurer or its pharmacy benefits manager for the prescribed drug.
Specifies that beginning January 1, 2024 any rebate amount shall be counted toward the insured’s out-of-state pocket prescription drug costs (Sec. 1).
Defines “cost sharing” as the following, including (Sec. 1):
Copayments;
Coinsurance;
Deductible;
Out-of-pocket maximum amount;
Other financial obligation, other than premium or share of a premium; or
Combination thereof.
Specifies that the provisions of this bill shall take effect upon passage and approval by the governor (Sec. 7).
Title: Authorizes Cost-Sharing Contributions for Prescription Drug
Title: Authorizes Cost-Sharing Contributions for Prescription Drug