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KS SB212
Bill
Status
2/5/2025
Primary Sponsor
Dinah Sykes
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AI Summary
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Creates a 5-member Prescription Drug Affordability Board appointed by the governor, with expertise in healthcare economics, health policy, health equity, and clinical medicine, to review prescription drug costs and establish upper payment limits beginning January 1, 2027
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Establishes a 21-member stakeholder council including representatives from drug manufacturers, pharmacists, employers, pharmacy benefit managers, healthcare advocates, physicians, nurses, hospitals, and the public to advise the board
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Authorizes the board to set upper payment limits on brand name drugs/biologics with wholesale acquisition costs of $60,000+ per year or price increases of $3,000+ in 12 months, biosimilars not at least 15% cheaper than reference biologics, and generic drugs costing $100+ with 200%+ price increases
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Prohibits prescription drug purchasers and third-party payers from purchasing, billing, or reimbursing above established upper payment limits once effective (no sooner than 6 months after adoption), with attorney general enforcement authority
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Requires annual reports to the legislature on drug price trends and board activities beginning December 2026, plus a one-time study on generic drug pricing impacts due before the 2027 legislative session
Legislative Description
Enacting the prescription drug cost and affordability review act to establish the prescription drug pricing board and prescription drug affordability stakeholder council to review the cost of prescription medications and establish upper payment limits for certain prescription drugs.
Last Action
Senate Referred to Committee on Financial Institutions and Insurance
2/6/2025