AN ACT RELATING TO FOOD AND DRUGS -- PRESCRIPTION DRUG COST PROTECTION

SB 2384 sets a legal limit on how much Rhode Island state programs, public employee health plans, and participating employer health plans can pay for certain prescription drugs. It prohibits these entities from purchasing or reimbursing drugs above a federal "maximum fair price" rate established by the U.S. Department of Health and Human Services. Any savings generated from this price cap must be used to lower costs for enrollees, with annual reports required to track how savings address health equity gaps. The bill applies to drugs covered under federal law (P.L. 117-169) and includes fines of $1,000 per violation for noncompliance.