Hastings supports legislation to lower prescription drug costs
State Senator Michael E. Hastings is supporting two significant pharmacy bills aimed at protecting patient access to pharmacies and health care services by hospitals engaged in the federal 340B program.
“Excessive and flat-out unfair prices are being set on prescription drugs with no accountability,” said Hastings (D-Frankfort).
“I hear from the members of the community daily – they are sick and tired of getting the short end of the stick on their prescriptions.”
House Bill 1697, the Prescription Drug Affordability Act, targets pharmacy benefit managers, entities that manage prescription drug benefits for insurers.
This bill would end harmful practices, such as “spread pricing,” where pharmacy benefit managers profit by charging insurers significantly more than what pharmacies receive.
It would also restrict PBMs from profiting from the sale of drugs to pharmacies and would require them to return 100% of pharmacy rebates back to the individuals or sponsoring organizations.
It will also prevent pharmacy benefit managers from unfairly steering patients toward particular pharmacies and stop PBMs from limiting an individual’s access to a drug from a pharmacy by classifying it as a “specialty drug.”
House Bill 2371 would establish the Patient Access to Pharmacy Protection Act, which would prohibit pharmaceutical manufacturers from imposing restrictive conditions on hospitals and pharmacies under the federal 340B program.
The measure would prohibit manufacturers from limiting the number of pharmacies a hospital can use. The bill would further require hospitals to report on an annual basis the use of those funds for charity care, thus providing transparency for the program.
“It is our job in the General Assembly to be a watchdog for our hardworking communities,” said Hastings. “These measures will protect Illinois residents and leave more money in their wallet to spend elsewhere.”
Both House Bill 1697 and House Bill 2371 passed the Senate on Thursday.
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