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THE SENATE |
S.B. NO. |
322 |
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THIRTY-FIRST LEGISLATURE, 2021 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to prescription drugs.
BE IT
ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Chapter 431R, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§431R- Mandatory notification of prescription
drug price increases. (a)
A manufacturer of a prescription drug with a wholesale acquisition cost
of more than $40 for a course of therapy shall notify each prescription
drug benefit plan and
pharmacy benefit manager of any planned price increase if that increase will
result in a sixteen per cent or more increase in the wholesale acquisition cost
of the prescription drug over any two-year period.
(b) The notice required by subsection (a) shall:
(1) Be provided in
writing at least sixty days prior to the planned effective date of the price increase;
and
(2) Include:
(A) The
date the price increase shall take effect;
(B) The
current wholesale acquisition cost of the prescription drug;
(C) The
dollar amount of the future price increase in the wholesale acquisition cost of
the prescription drug; and
(D) A statement regarding whether a change or improvement in the drug necessitates the price increase, and if so, a description of the change or improvement.
(c) The insurance commissioner shall post on the website of the department of commerce and consumer affairs the names and addresses of the prescription drug benefit plans and pharmacy benefit managers required to receive notice pursuant to this section."
SECTION 2. Section 431R-1, Hawaii Revised Statutes, is amended by adding a new definition to be appropriately inserted and to read as follows:
""Course of therapy" means:
(1) The recommended
daily dosage units of a prescription drug for thirty days, pursuant to its
prescribing label as approved by the federal Food and Drug Administration; or
(2) The recommended daily dosage units of a prescription drug pursuant to its prescribing label for a normal course of treatment that is less than thirty days, as approved by the federal Food and Drug Administration."
SECTION 3. Section 431R-4, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:
"(a)
No later than March 31 of each
calendar year, each prescription drug benefit plan, health benefits plan under chapter 87A, and pharmacy benefit manager shall file with the insurance
commissioner, in [such] a form and detail as the insurance
commissioner shall prescribe, a report for the preceding calendar year stating
that the pharmacy benefit manager or prescription drug benefit plan is in
compliance with this chapter. The report
shall fully disclose the amount, terms, and conditions relating to copayments,
reimbursement options, and other payments associated with a prescription drug
benefit plan. Each report shall disclose
an address that will be posted on a public website for purposes of receiving notifications
pursuant to section 431R- ."
SECTION 4. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 5. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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Report Title:
Department of Commerce and Consumer Affairs; Prescription Drugs; Price Increases; Notification; Insurance Commissioner
Description:
Requires that if a proposed increase in the wholesale price of certain drugs would result in a 16 per cent or more price increase over a two-year period, the drug manufacturer shall notify various drug insurance providers.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.