Establishes Prescription Drug Affordability Board and Stakeholder Council to review and set upper payment limits on high-cost prescription drugs.

The Ohio Prescription Relief, Inflation Cost Elimination (PRICE) Act establishes the Prescription Drug Affordability Board and Prescription Drug Affordability Stakeholder Council within the Department of Insurance. The board reviews and sets upper payment limits on prescription drugs that have experienced significant price increases or have high wholesale acquisition costs. The stakeholder council provides input to the board. The board considers various factors, including cost trends, patient access, and market competition, in setting upper payment limits.

Establishes Prescription Drug Affordability Board and Stakeholder Council to review and set upper payment limits on high-cost prescription drugs.

The Ohio Prescription Relief, Inflation Cost Elimination (PRICE) Act establishes the Prescription Drug Affordability Board and Prescription Drug Affordability Stakeholder Council within the Department of Insurance. The board reviews and sets upper payment limits on prescription drugs that have experienced significant price increases or have high wholesale acquisition costs. The stakeholder council provides input to the board. The board considers various factors, including cost trends, patient access, and market competition, in setting upper payment limits.