Establishes "Medicaid Pharmacy Benefit Transparency and Accountability Act."
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill, the Medicaid Pharmacy Benefit Transparency and Accountability Act, aims to increase transparency and accountability in how New Jersey’s Medicaid program pays for prescription drugs. It requires the state to publicly report data on pharmacy claims, including negotiated prices with drug manufacturers and rebates received. The goal is to identify potential cost savings and ensure that the state is getting the best possible value for medications provided to Medicaid recipients. The bill also establishes a process for reviewing and potentially challenging these negotiated prices.
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