Establishes a Prescription Drug Affordability Board to evaluate high-cost prescription drugs and set upper payment limits.

The bill establishes a Prescription Drug Affordability Board to identify and evaluate high-cost prescription drugs and set upper payment limits when appropriate. The board will consider factors such as Medicare price benchmarks, patient access barriers, state budget impact, manufacturer conduct, and availability of therapeutic alternatives. The board will also implement statutory limits on out-of-pocket costs for certain medications and prohibit copayment adjustment programs that prevent financial assistance from counting towards a patient's deductibles and maximum out-of-pocket amounts.

Establishes a Prescription Drug Affordability Board to evaluate high-cost prescription drugs and set upper payment limits.

The bill establishes a Prescription Drug Affordability Board to identify and evaluate high-cost prescription drugs and set upper payment limits when appropriate. The board will consider factors such as Medicare price benchmarks, patient access barriers, state budget impact, manufacturer conduct, and availability of therapeutic alternatives. The board will also implement statutory limits on out-of-pocket costs for certain medications and prohibit copayment adjustment programs that prevent financial assistance from counting towards a patient's deductibles and maximum out-of-pocket amounts.