Maryland is making prescription drugs more affordable with a landmark plan to cap high-cost medications for state and local governments.
Maryland continues to lead the way in making healthcare more accessible and affordable. In a recent press release from Maryland Health Care for All Coalition, the Maryland General Assembly’s Legislative Policy Committee has approved the Maryland Prescription Drug Affordability Board’s (PDAB) plan to set upper payment limits for certain high-cost prescription drugs. The General Assembly created the Prescription Drug Affordability Board in 2019. This groundbreaking decision marks a landmark effort to reduce the burden of rising medication costs for state and local governments.
As reported by WYPR, Maryland House Speaker Jones emphasized the importance of this decision in the meeting:
“We can and must make some prescription drugs more affordable without upending the marketplace. Today marks another step and what has been a deliberate and transparent five-year process. I’m confident that the board and its staff will continue to listen to everyone involved as they implement this action plan, said House of Delegates Speaker Adrienne Jones.
The newly approved plan grants the Board the authority to cap the prices that state and local governments pay for expensive medications, a move expected to significantly reduce public spending on drugs. From the press release:
“The PDAB has worked diligently to come up with a plan to bring down the cost of high-cost prescription drugs purchased by state and local government, and now it’s time to expand the Board’s authority statewide,” said Vincent DeMarco, president of the Maryland Health Care For All Coalition (HCFA).
This action mirrors recent federal moves by the Medicare program to negotiate lower costs for several high-cost drugs, showing that both state and federal leaders recognize the urgent need to address skyrocketing medication prices.
Maryland Health Care for All Coalition will hold a news conference on Thursday, October 24, at 11 a.m. in the Miller Senate Office Building Media Room in Annapolis. Key state leaders will discuss the importance of expanding the Board’s reach to benefit all state residents.
Read the full press release.
Stay tuned to the Conduit Street for more information.
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