Drug Price Transparency Insurance Premium Reductions
Concerning measures to reduce health care costs related to prescription drug prices, and, in connection therewith, creating the “Colorado Prescription Drug Price Transparency Act of 2020” to require health insurers, prescription drug manufacturers, pharmacy benefit management firms, and nonprofit organizations to report specified information about the costs of prescription drugs to the commissioner of insurance and to direct the commissioner to analyze the information and submit a report regarding the effects of prescription drug costs on health insurance premiums; and requiring health insurers to reduce insurance premiums to adjust for rebates the insurers receive for prescription drugs.