Tennessee lawmakers have proposed a bill that aims to provide affordable prescription drugs to the state’s residents. House Bill 2897 would require pharmacies to notify customers of the lowest available price for their medications. Republican State Rep. Sabi ‘Doc’ Kumar, the sponsor of the bill, expressed concerns about insurers purchasing pharmacy chains and pharmacy benefit managers, which have led to increased medication prices.
The proposed legislation seeks to prevent patients from paying higher co-pays when a cheaper alternative is available without using their insurance card. It also encourages pharmacists to utilize a software program that can inform them when a medication is available at a lower cost. Kumar emphasized the complexity of the healthcare system but stated that efforts are being made to save Tennesseans as much money as possible on their medications.
In most states, choosing a lower out-of-pocket price for a prescription does not contribute to a patient’s deductible. However, a law passed in Tennessee last year allows residents to apply cash payments toward their deductible by contacting their insurance provider.
HB 2897 has made progress, advancing out of the Health Subcommittee and is expected to be heard by the Health Committee this week. A companion bill is also moving forward in the Senate.
While the proposed bill aims to address the affordability of prescription drugs, critics argue that it may not adequately tackle the root causes of high medication prices, such as the influence of big pharmaceutical corporations and the lack of transparency in pricing. They contend that further measures should be taken to address these underlying issues.
Overall, the bill represents a step towards providing more affordable healthcare options for Tennesseans. However, its effectiveness in combating rising medication costs and addressing broader healthcare challenges remains a subject of debate.
