Health Insurance – Bulk Purchasing Pools for Prescription Drugs

HB 88 allows Maryland health insurers, nonprofit health service plans, and health maintenance organizations (HMOs) to join group buying pools for prescription drugs. This enables these entities to collectively purchase medications at potentially lower costs, directly affecting the price of covered drugs for plan members. The bill authorizes participation in such pools for entities providing prescription drug coverage through pharmacy benefit managers. It will take effect October 1, 2026, but does not require participation or guarantee cost savings.