Georgia lawmakers did not pass, HB 343, legislation intended to decrease what Georgia patients, particularly those living with chronic conditions, pay at the pharmacy counter for prescriptions they rely on.
Georgia patients living with chronic illnesses like HIV and heart disease rely on consistent and reliable access to the treatments and care they need to manage symptoms and control their illness.
However, insurance barriers and pharmacy middlemen are still blocking lifesaving health care for many Georgia patients. Many health insurance companies and pharmacy benefit managers (PBMs) receive significant rebates and discounts from pharmaceutical companies for the cost of medications and treatments, but they don’t pass those savings onto to patients receiving the care. This causes Georgians to pay more out-of-pocket for their medications.
House Bill 343 (HB343) aims to reform rebates in Georgia and will increase transparency into health insurer and PBM practices.
HB 343 will require insurers and PBMs to pass 50% of the rebates they receive from drug companies for the cost of medications go directly to patients at the pharmacy counter. Patients will no longer pay the full list price for their medications that offer pharmaceutical rebates (discounts).
HB 343 ensures accountability and transparency by requiring an annual report by insurers, on the amounts of rebate passed through, to patients. This report is to be submitted to the GA House and GA Senate Health Committees.
HB343 will reform a system that allows Georgia health insurers and PBMs to improve their bottom lines at the expense of patients. This legislation will ensure patients no longer pay full price for drugs that are sold to insurers and PBMs at deep discounts. This legislation allows 50% of rebates to go directly to patients and requires PBMs to annually report their rebates aggregate amount they have passed through.