Governor Ned Lamont of Connecticut celebrated the passage of a state measure designed to alleviate the burdens that individuals endure due to rising prescription drug prices.
On Wednesday morning, Lamont hosted a bill signing ceremony at Hartford’s Arrow Pharmacy.
The accomplishment of the law was credited to bipartisan support by those who attended the signing. Republican state representative Mitch Bolinsky said this endeavor underscores the scope of the problem.
Regretfully, such support also demonstrates the extreme stress that our state’s citizens are experiencing as a result of high prescription prices. In addition to increasing pricing transparency for prescription drugs, the new law is a positive start toward future cost reduction.
AARP’s state director, Nora Duncan, praised lawmakers’ attempts to address Connecticut consumers’ concerns about the escalating cost of prescription drugs.
According to Duncan, 94% of Connecticut adults surveyed by AARP agreed that the state ought to act to improve the affordability of prescription drugs.
The bill contains clauses requiring Pharmacy Benefit Managers (PBMs) to offer health plans the choice to purchase prescription medications at the same cost that the PBM pays pharmacies.
Among other things, it removes a controversial clause that permitted pharmacists to be punished for telling a patient how much a prescription would cost.
The Connecticut Department of Social Services (DSS) commissioner, Andrea Barton-Reeves, is hopeful that the measure would resolve the disparity between patient access and pharmacy funding.
According to Barton-Reeves, the Medicaid program’s substantial expenditure on pharmacy really detracts from other resources that are sorely needed for other areas of our community.
According to Lamont, the battle for reasonable drug prices is far from over. Many individuals in Connecticut still lack access to life-saving drugs.
According to Lamont, 2% of our medications account for 50% of our prescription drug expenses.
Lamont emphasized the value of group purchasing, which enables states to join together and buy drugs in bulk, resulting in lower costs.
He brought up the 2023-launched ArrayRx program, which provides up to 80% discount select prescription medications through bulk buying.
A mechanism for the importation of Canadian prescription drugs is also included in the law. Wholesalers are permitted to import non-controlled medications from Canada under this arrangement. Lamont praised the purchasing power of the Canadian system.
The action might increase the state’s bargaining power and help consumers save money.
The bill’s supporters claim it represents a major advancement in Connecticut’s pharmaceutical cost and accessibility.
