Weekly Policy Update: CBSA Takes Positions on Additional Bills, Transparency News, and China Tariffs
By: Colorado BioScience Association Date: 04/13/2018
UNDER THE DOME
The Colorado BioScience Association took formal positions on three bills this week. With 18 working days left of session we continue to evaluate and make recommendations on legislation being introduced. Outlined below are details on four bills on which CBSA recently took a position. Please connect with us if you’d like to weigh in.
The bill enacts the “Patient Drug Costs Savings Act”. The bill would prohibit a carrier that has a contract with a pharmacy or pharmacist, or a pharmacy benefit management firm acting on behalf of a carrier, from:
- Prohibiting a pharmacy or pharmacist from, or penalizing a pharmacy or pharmacist for, providing a covered person information on the amount of the covered person’s cost share for the covered person’s prescription drug and the clinical efficacy of any more affordable alternative drugs that are therapeutically equivalent; or
- Requiring a pharmacy to charge or collect a copayment from a covered person that exceeds the total submitted charges by the network pharmacy.
This week CBSA testified in support of HB18-1284. The bill passed out of committee unanimously and will move to the Senate floor next. To read the testimony click here.
This bill extends the Skilled Worker, Outreach, Recruitment and Key Training grant program by three years. The program provides CDLE matching grants to industry organizations for the recruitment of students to attend career and tech education programs. Under the bill the General Assembly is directed to appropriate $10 million for the WORK grant program for the 2015-16, 2016-17, and 2017-18 fiscal years.
This bill requires disclosure of price information for health insurers, healthcare facilities, healthcare providers, and pharmacies.It also requires a pharmacy to publish a list of its retail drug prices, which is a list of the costs the pharmacy charges to an insured or uninsured person for prescription drugs it administers or dispenses, before any rebates, discounts, or other price adjustment mechanisms are applied.
Requires businesses with five or more employees that does not offer a qualified retirement plan to withhold and remit employee contributions to a state-run IRA retirement plan. Employees may opt-out of the program, but employers may not.
TRUE TRANSPARENCY – COLORADO HOUSE VOTED THIS WEEK ON PRESCRIPTION DRUG PRICE TRANSPARENCY BILL (HB18-1260)
Another week and CBSA continues to advocate against House Bill 1260, Prescription Drug Price Transparency. The bill could stifle bioscience innovation in Colorado and harm patients.
Colorado Bioscience Association (CBSA) advocates for True Transparency to help patients understand the role of manufacturers, insurers and Pharmacy Benefit Managers (PBMs) in determining out-of-pocket drug costs. HB18-1260 exclusively targets certain stakeholders while completely overlooking the influential role of middlemen who inflate costs for patients.
The Colorado House of Representatives this week voted on 2nd readings to pass House Bill 18-1260. The bill now moves for a vote on 3rd readings in the House (vote likely on Monday). We are disappointed in the current outcome in the House, but will continue to advocate over the weekend to the Colorado House of Representatives ensuring they know that this legislation jeopardizes Colorado’s thriving biosciences community.
Thank you for taking the time to contact the Colorado House of Representatives. While we weren’t successful defeating your bill in the House 2nd reading we encourage you to continue to voice your opinion before it is voted on 3rd reading and final passage. Your voice is instrumental ensuring that our position is heard. As an industry we are committed to ensuring our patients receive lifesaving treatments and cures.
Please help us tell our industry story to our Colorado Senate leaders. Please utilize this form to email your legislator reminding them that this legislation jeopardizes Colorado’s thriving biosciences community and does not deliver value to patients as it promises. For more information on CBSA’s position on True Transparency click here.
A growing number of products, as well as their components, are now manufactured in China. Last week, the U.S. Trade Representative (USTR) proposed a 25% tariff increase on $50 billion worth of U.S. imports from China. An estimated $3 billion worth of medical devices are on the proposed list of imports. To that end, the Office of the U.S. Trade Representative is giving medical device manufacturers and other interested parties a chance to commenton its proposals (PDF). The deadline for written comments is May 11. CBSA is disappointed to learn of these increased tarrifs on our industry and will be working with our national industry partners, AdvaMed, to ensure our industry’s voice is heard and protected. If you would like to provide comment or engage with CBSA on this please contact Jennifer Jones.