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Committee approves H.577 draft to create prescription drug discount card; bill moves to Appropriations and Ways & Means
Summary
A legislative committee approved H.577 (draft 2.02), which would create a prescription drug discount card and require insurers and pharmacy benefit managers to count amounts paid via the card toward an individual’s deductible and out-of-pocket limits; the Treasurer testified that a modest uptake could save Vermonters about $18 million annually.
Jen Harvey, legislative counsel with the Office of Legislative Council, introduced draft 2.1 of H.577 and told the committee the bill "creates the prescription drug discount card program" and includes amendments so amounts paid with the card are "attributed toward their deductible and out of pocket responsibilities." Harvey said insurers and pharmacy benefit managers (PBMs) would be required to permit attribution of third-party payments and discounts toward deductibles and out-of-pocket maximums and to "make readily available on their website a downloadable proof of payment form" so covered individuals can submit proof.
Harvey described changes in section 3 intended to clarify what a PBM may charge when a consumer does not use a health plan: the PBM cannot require a covered person to pay more than…
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