SF 131 Summary

• Requires drug manufacturers to annually report prescription drug prices to the commissioner of health for drugs costing $100 or more for a 30-day supply, beginning January 30, 2022, with information classified as public data.

• Mandates health plans file prescription drug formularies with the commissioner and establishes restrictions on formulary changes, requiring 60-day notice before removing brand name drugs or increasing enrollee costs.

• Prohibits health carriers from denying or limiting coverage of services already received solely due to lack of prior authorization or second opinion, effective January 1, 2022.

• Requires group purchasers and pharmacy benefit managers to use real-time prescription benefit tools complying with NCPDP standards to provide prescribers with coverage, formulary status, cost-sharing, and alternative drug information.

• Establishes civil penalties up to $10,000 per day for manufacturers failing to comply with price reporting requirements and adds manufacturer compliance as grounds for disciplinary action under pharmacy licensing laws.