LA HB870

Health insurers must immediately add FDA-approved generic drugs and biosimilars to formularies on a tier with lower cost-sharing than the brand-name reference drug, when the generic/biosimilar has a lower wholesale acquisition cost

Insurers are prohibited from imposing prior authorization, step therapy, or other utilization management barriers on these lower-cost generic drugs and biosimilars

Insurers cannot restrict pharmacy access for generics or biosimilars in ways that make them harder to obtain than the reference products

Requirements remain in effect only while the generic drug or biosimilar maintains a lower wholesale acquisition cost than its reference product

Enacts R.S. 22:1060.9, applying to health insurance issuers in Louisiana