A3512

Establishes the "Equitable Drug Pricing and Patient Access Act" to ensure fair pricing and access to prescription drugs for Medicaid beneficiaries.

The "Equitable Drug Pricing and Patient Access Act" aims to enhance transparency and cost management within the Medicaid program to reduce waste and cost increases. It mandates that the reimbursement rate for prescription drug services paid to pharmacies be no less than the national average drug acquisition cost plus a Medicaid fee-for-service professional dispensing fee of $10.92. The act also requires Medicaid managed care contracts to include pharmacy choice as a benefit, allowing enrollees to choose any qualified pharmacy.