Florida's drug price transparency law takes effect
Pharmacists in Florida can now share cost information with patients, thanks to a new law that took effect July 1, which prevents insurance companies from banning this practice. The bill passed the Florida legislature and was signed by Florida Gov. Rick Scott in March.
The Prescription Drug Pricing Transparency bill allows pharmacists to tell customers whether their cost-sharing obligations exceed the retail price of their prescriptions.
“Most patients assume that their share of cost of that prescription will be less than the actual retail cost of the prescription (or the non-insured cash price) of the drug,” the Florida Senate bill analysis reads.
The bill also requires pharmacists to inform customers about the availability of less expensive, generically equivalent drugs.
Florida state Sen. Robert Bradley of Orange Park, is on the Banking and Insurance committee that introduced the Senate Bill 1494.
The Prescription Drug Pricing Transparency bill allows pharmacists to tell customers whether their cost-sharing obligations exceed the retail price of their prescriptions.
“Most patients assume that their share of cost of that prescription will be less than the actual retail cost of the prescription (or the non-insured cash price) of the drug,” the Florida Senate bill analysis reads.
The bill also requires pharmacists to inform customers about the availability of less expensive, generically equivalent drugs.
Florida state Sen. Robert Bradley of Orange Park, is on the Banking and Insurance committee that introduced the Senate Bill 1494.