HARTFORD — State Representative Mitch Bolinsky (R-106) strongly supported final passage of a bill to lower the cost of prescription drugs (Rx), according to a press release issued by his office.

The bill was worked on in the Aging Committee, Human Services and Public Health, with assistance from the General Assembly's bipartisan drug task force.

Bolinsky is a listed co-introducer of the legislation, HB 7192 — An Act Implementing Recommendations of the Bipartisan Drug Task Force, which would introduce a fiduciary requirement for any health carrier or health benefit plan sponsor which requires them “to prioritize the financial interests of plan sponsors.” The bill delinks the fee for the Pharmacy Benefit Management (PBM), a third-party administrator of prescription drug programs for various health plans from the cost of the drug and places it as a set fee. This will reduce the incentive of the PBM from utilizing high-cost drugs, according to the release.

The bill would also strengthen regulatory oversight in several areas and requires reimbursement to pharmacies at the wholesale cost and prevent pharmacies from being reimbursed at prices lower than they were able to pay for the medications. In addition, the bill develops a mechanism to begin the state importation of Canadian medications.

"With more oversight of these PBMs and delinking their compensation from drug prices, we can see a fairer and hopefully lower cost system for residents, as we have seen prescription drug prices skyrocket in recent years," said Bolinsky, who has advocated for prescription drug relief as a member of the Aging Committee for many years. "We can further provide tools to combat rising costs for our seniors by importing drugs from places like Canada.

"These pharmacy benefit managers have prioritized profit over cost control by engaging in spread pricing, collecting excessive rebates, and steering patients toward affiliated pharmacies without improving adherence or reducing expenses. Connecticut seniors deserve better," Bolinsky also stated.

As of 2023, PBMs managed pharmacy benefits for 275 million Americans.