Louisiana HB870 mandates favorable formulary placement and cost-sharing for generic drugs and biosimilars with lower costs than their reference.

Louisiana HB870 requires health insurance issuers to immediately include generic drugs and biosimilars on their formulary with more favorable cost-sharing when their wholesale acquisition cost is lower than that of their reference products. The law prohibits prior authorization, step therapy, or any other restrictions that would hinder access to these drugs. It remains in effect as long as the lower cost condition is met. The law defines key terms such as "biosimilar," "generic drug," "reference listed drug," "reference product," and "wholesale acquisition cost.

Louisiana HB870 mandates favorable formulary placement and cost-sharing for generic drugs and biosimilars with lower costs than their reference.

Louisiana HB870 requires health insurance issuers to immediately include generic drugs and biosimilars on their formulary with more favorable cost-sharing when their wholesale acquisition cost is lower than that of their reference products. The law prohibits prior authorization, step therapy, or any other restrictions that would hinder access to these drugs. It remains in effect as long as the lower cost condition is met. The law defines key terms such as "biosimilar," "generic drug," "reference listed drug," "reference product," and "wholesale acquisition cost.