Maryland Lawmakers Approve Caps on High-Cost Prescription Drugs to Lower Costs
Maryland Lawmakers Approve Caps on High-Cost Prescription Drugs
A panel of Maryland lawmakers made significant progress on Tuesday by approving a plan designed to cap the price of high-cost prescription drugs. This important decision enables a state board to determine price limits, effectively lowering expenses for state and local governments that provide these medications for their employees.
Legislative Details
The Legislative Policy Committee voted 16-5 in favor of this plan, allowing the Maryland Prescription Drug Affordability Board to implement these crucial cost limits. Established by the Maryland General Assembly in 2019, this independent agency is composed of five members and is supported by a 26-member advisory council.
Why It Matters
This legislative move signifies a proactive approach to address the skyrocketing costs associated with medication, aiming to provide relief to both employees and government budgets.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.