S.2621

Establishes the "Equitable Drug Pricing and Patient Access Act" to ensure fair reimbursement rates for Medicaid prescription drugs.

The "Equitable Drug Pricing and Patient Access Act" sets a minimum reimbursement rate for prescription drug services in Medicaid, ensuring it is no less than the national average drug acquisition cost plus a Medicaid fee-for-service. The act mandates that Medicaid managed care contracts include pharmacy choice as a required benefit, allowing enrollees to choose any qualified pharmacy. It also requires the State Auditor to audit pharmacy pricing practices within the Medicaid program to determine potential savings.