Substitute Bill No. 8 - Drug Affordability Summary

• Establishes a Canadian prescription drug importation program to import safe and effective prescription drugs from Canada for Connecticut's medical assistance program, contingent on federal Food and Drug Administration approval by January 1, 2025.

• Creates a Prescription Drug Affordability Board with five expert members to identify high-cost prescription drugs, review pricing practices, recommend upper payment limits, and submit annual reports to the General Assembly beginning December 31, 2025.

• Establishes a Prescription Drug Affordability Stakeholder Council with representatives from health advocacy, labor, insurers, manufacturers, pharmacists, and state agencies to advise the affordability board on drug pricing recommendations.

• Requires state entities and health benefit plans to make eligible insulin products available in a preferred tier with no copayment or out-of-pocket cost, effective January 1, 2025.

• Mandates hospitals and state drug purchasing agencies maintain drug shortage prevention strategies covering at least 40 eligible drugs and requires compliance reporting, with enforcement by the Office of Health Strategy.