LD 1829 LR 735(02)
An Act to Reduce Prescription Drug Costs by Requiring Reference-based Pricing
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Health Coverage, Insurance and Financial Services
Fiscal Note Required: Yes
Fiscal Note
FY 2023-24 FY 2024-25 Projections  FY 2025-26 Projections  FY 2026-27
Net Cost (Savings)
General Fund $0 $1,336,343 $1,147,961 $1,160,160
General Fund $0 $1,336,343 $1,147,961 $1,160,160
Fiscal Detail and Notes
This bill expands the charter of the Prescription Drug Affordability Board (PDAB) and directs the board to assess strategies to reduce prescription drug costs and to take steps to implement reference-based pricing. There are many changes that could be identified by the PDAB, such as, setting upper payment limits, referenced-based pricing or potential regulation of prescription drug cost-sharing requirements. The bill includes General Fund appropriations to the Office of Affordable Health Care of $1,336,343 in fiscal year 2024-25 to establish one Public Service Coordinator II position, one Planner II position and for contracts to administer the new requirements of the Maine Prescription Drug Affordability Board.
The potential changes identified in the bill would have a large future biennium impact to the State Employee Health Plan, but it is not known at this time which, if any, of these changes may be made by the PDAB and the potential future impact to the SEHP cannot be determined at this time.