❌ SB160
Regards prescription drugs and medication switching
Current Status: In Senate Committee (Financial Institutions, Insurance and Technology)
Summary
The bill prohibits health plan issuers from increasing cost-sharing for drugs, moving drugs to more restrictive formulary tiers, or removing drugs from formularies unless specific conditions are met. It also allows for the substitution of interchangeable biological products and generically equivalent drugs, while establishing penalties for violations as unfair and deceptive practices in insurance.
Rationale
The bill imposes regulations on health plan issuers, which conflicts with the Libertarian principles of minimal government intervention in markets and personal choice. Both the LP and LPO emphasize free markets and individual rights, which this bill appears to restrict.
Risks and Concerns
- Increased government control over healthcare decisions
- Potential for reduced competition in the pharmaceutical market
- Unintended consequences on drug availability and pricing