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Committee reviews draft of H.577 to credit discount-card payments toward deductibles
Summary
A committee previewed amendments to H.577 that would require insurers and pharmacy benefit managers to credit amounts paid using Vermont prescription drug discount cards toward insured individuals’ deductibles and out-of-pocket maximums and to provide a proof-of-payment process; testimony is scheduled for tomorrow.
Jen Carby of the Office of Legislative Council walked a legislative committee through a strike-all amendment to H.577, an act to establish the Vermont prescription drug discount card program, and explained how the draft would require insurers and pharmacy benefit managers (PBMs) to attribute amounts paid using discount cards toward covered individuals’ deductibles and annual out-of-pocket maximums. Carby said the amendment also adds a reporting requirement that the treasurer’s annual report include the balance in the Vermont prescription drug discount card program fund.
The draft clarifies three core points.…
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