While we share a commitment to addressing the high cost of prescription drugs, we have significant concerns with Virginia H.B. 1724 that creates a Prescription Drug Affordability Board (PDAB). We believe it will not translate into lower drug costs for patients and may dampen future drug development.
As the Committee considers the nomination of Mehmet C. Oz, M.D. to serve as CMS Administrator, the HIV+Hepatitis Policy Institute urges you to ensure the nominee will uphold a stalwart commitment to a comprehensive healthcare system that includes a robust private insurance market, along with strong Medicaid and Medicare programs. All are critical to making American healthier again and in ending the chronic diseases of HIV and hepatitis. Please find attached suggested questions for Dr. Oz concerning 1) a federal court decision regarding copay assistance for prescription drugs, 2) preventive services coverage under the ACA, 3) private insurance prescription drug coverage and affordability policies, and 4) the Medicare Part D six protected classes of prescription drugs.
While we share a commitment to addressing the high cost of prescription drugs, we have significant concerns with SB0357 that expands the authority of the Prescription Drug Affordability Board (PDAB). We believe it will not translate into lower drug costs for patients and may dampen future drug development. Access to and affordability of the latest drugs are especially critical for patients living with HIV, hepatitis, cancer, and rare diseases. People with HIV and hepatitis B rely on drug treatments that they must take for the rest of their lives, while people with hepatitis C can be cured of their disease in as little as 8 to 12 weeks. We also now have medications that prevent HIV.
Price-setting mechanisms like Upper Payment Limits (UPLs) imposed by a PDAB fail to account for the complexities of both drug pricing and the broader drug development ecosystem. This approach could discourage investments in new treatments and slow the development in advances we desperately need, and also risks creating significant barriers to patient access.
We commend the Colorado Division of Insurance for taking the initiative to update state guidance on PrEP coverage. We support a finalized regulation and bulletin that clarifies that all PrEP medications and services must be covered without prior authorization or cost-sharing. We urge you to clarify that all FDA-approved PrEP medications must be covered without prior authorization or cost-sharing.