Prescription Drug Consumer Financial Protection Act

This bill, if passed, updates the part of the Official Code of Georgia with notes about insurance.

• Code of Georgia: These are the rules or laws for the state of Georgia that say what people in Georgia can and cannot do.

If passed, this bill makes health insurance companies  pass on 80 percent of all prescription drug rebates to people who have that health insurance

• Prescription drug rebates: This is like getting some money back after buying medicine. Companies that make the medicine give a discount, and part of that discount goes to the people or insurance companies that help pay for the medicine. 

This bill includes many important points:

• Explains important terms related to insurance and prescription drugs

• Makes clear that folks rely on insurance companies that the state makes rules for, for their prescription medications.

• Points out that the amount of money people with insurance have to pay prescription drugs is getting higher and higher.

• Mentions that high costs affect people’s ability to start and stay on the medications they need.

• Recognizes the extra strain on people with conditions that are ongoing.

• Highlights the problems with insurance companies keeping rebates and discounts instead of giving them to the people they serve.

If passed, this bill ensures that people with insurance really do save money from rebates and discounts.

It also makes insurance companies calculate how much money they and the person each pay based on the lower prices from rebates.

This bill also puts in place punishments for insurance companies that don't follow the rules, and allows sharing rebate info in certain situations.

If passed, the bill makes it so these new rules would start January 1, 2026, and gets rid of any laws that make it impossible for these rules to exist.