Prescription drug cost transparency
In 2019, the Washington State Legislature passed Engrossed Second Substitute House Bill 1224 into law. This law states requires issuers of health insurance, pharmacy benefit managers (PBMs), manufacturers, and pharmacy service administrative organizations (PSAOs) to submit data to the Health Care Authority (HCA). The purpose is to create an annual report on how prescription drugs affect health care costs. The law also requires pharmaceutical manufacturers to submit data to HCA relating the new drug applications (NDA).
HCA is currently in the planning phase of this effort. It is estimated that it will take up to 12 months to complete the rule making process. We will have information specific to each information supplier at a future date.
Drug manufacturers, health carriers, pharmacy benefit managers (PBMs), and pharmacy services administrative organizations (PSAOs) are not expected to submit data in 2019. There will not be imposed fines for not submitting in 2019. HCA anticipates being ready to collect data by October 2020.