ESTABLISH REQUIREMENTS FOR RX DRUGS AND MED EQUIPMENT PRICING: The department of administrative services shall create a state medical item formulary. The formulary shall contain all prescription drugs and items of medical equipment on the VA national formulary. Limits the amount that may be paid or reimbursed for a prescription drug or item of medical equipment to the amount the United States Department of Veterans Affairs (VA) pays or reimburses for the same drug or item. Applies the limit to (1) state departments, agencies, and entities, (2) state retirement systems, (3) public employee benefit plans, (4) Ohio’s Medicaid Program, and (5) health insurers.