An Act to ensure access to prescription medications

This bill amends Massachusetts law to regulate how pharmacy benefit managers and insurance companies set maximum allowable costs for prescription drugs. It requires these entities to ensure that the reimbursement rates they offer pharmacies are at least equal to the actual cost of acquiring the medication. Additionally, the bill mandates that drugs placed on these cost lists must have generic alternatives available and that the lists be updated and shared with pharmacies at least every three business days. The legislation also establishes a formal process for pharmacies to appeal reimbursement decisions if they believe the set costs are too low.