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GA SB518
Bill
Status
Introduced
2/15/2022
Primary Sponsor
Chuck Hufstetler
Click for details
AI Summary
- Health insurers must pass along at least 80% of all prescription drug rebates to enrollees at the point of sale by reducing the price used to calculate cost sharing requirements (coinsurance, deductibles, and other out-of-pocket amounts)
- "Rebates" broadly includes negotiated price concessions, price protection rebates, performance-based concessions, fees, and administrative costs from manufacturers, pharmacies, or other parties that reduce an insurer's drug acquisition costs
- Noncompliance may result in civil penalties and suspension or revocation of an insurer's license under existing enforcement provisions in Code Section 33-2-24
- Actual rebate amounts received by insurers on a product, manufacturer, or pharmacy-specific basis are protected as trade secrets and exempt from public records disclosure, with limited exceptions for department requests, court orders, or third-party healthcare/administrative service providers
- Effective January 1, 2023, applying to all policies issued, delivered, or renewed in Georgia on or after that date
Legislative Description
"Prescription Drug Rebate Financial Protection Act"; enact
Last Action
Senate Read and Referred
2/17/2022
Committee Referrals
Insurance and Labor2/17/2022
Full Bill Text
No bill text available