OH SB253

Requires the Department of Administrative Services to create a state medical item formulary containing all prescription drugs and medical equipment on the VA national formulary, with per unit prices matching what the U.S. Department of Veterans Affairs pays or reimburses.

Mandates state departments, agencies, retirement systems, and their employee benefit plans cannot pay more than the VA per unit price for drugs and medical equipment on the state formulary.

Extends the same pricing cap requirement to private health insurers and Medicaid, prohibiting them from exceeding VA per unit prices for formulary items.

Requires quarterly reviews and updates to the state medical item formulary to reflect changes in the VA national formulary and pricing.

Establishes annual reporting requirements to the Governor and General Assembly by the Department of Administrative Services, Superintendent of Insurance, and Medicaid office regarding compliance monitoring.