ME LD697

Expands the Maine Prescription Drug Affordability Board from 5 to 6 members by adding the executive director of the Maine Health Data Organization as an ex officio, nonvoting member

Shifts the board's focus from setting prescription drug spending targets to assessing cost-reduction strategies, including establishing upper payment limits, implementing reference-based pricing, regulating pharmacy benefits managers, and reducing consumer out-of-pocket costs

Requires the board to evaluate reference-based pricing for the first 10 drugs negotiated under the Medicare drug price negotiation program (established by the Inflation Reduction Act of 2022) for potential application to the state employee health plan

Removes the board's authority to recommend that public payors pay annual assessments to fund board administration

Mandates submission of a preliminary prescription drug affordability program plan by January 30, 2026 and a final plan by October 1, 2027 to the Joint Standing Committee on Health Coverage, Insurance and Financial Services