Measure will lead to cost reductions, making medications more affordable for Marylanders.
The hundreds of civic, religious, labor, senior, and health care organizations that comprise the Maryland Health Care for All Coalition today saluted Maryland Governor Wes Moore as he signed into law a landmark bill to bring down the cost of prescription drugs across the state.
The legislation (HB 424/SB 357) will expand the authority of the Maryland Prescription Drug Affordability Board, empowering it to bring down costs of some high-cost medications for all Marylanders. Currently, the Board has the authority to cap costs of drugs purchased by state and local governments.
Maryland has been a leader in this effort by establishing the first such board in the nation, and several states have followed suit. The legislation was sponsored by Delegates Bonnie Cullison and Jennifer White Holland and Senators Dawn Gile and Brian Feldman.
“With this legislation, Maryland takes a critical step in our campaign to make drugs more affordable for Marylanders,” said Vincent DeMarco, president of the Maryland Health Care for All Coalition. “The Prescription Drug Affordability Board has made amazing progress working on solutions to bring down the cost of drugs for local and state government. Now it can expand its work to benefit all Marylanders. Too many people struggle to pay for the medications they need to lead healthy lives. We are grateful to Governor Moore for his support as well as the legislators who sponsored and supported this measure. And we are excited that other states are following our lead and developing similar solutions to help people afford their prescriptions.”
The governor also signed a second major bill that will make health insurance more affordable for young adults. The legislation (HB 297/SB 5) extends a successful program to provide health insurance subsidies for young adults. This year the Young Adult Health Insurance Subsidy Pilot Program has helped more than 64,000 young Marylanders enroll in insurance coverage. Thanks to this program, which is administered by the Maryland Health Benefit Exchange, many young adults (ages 18 to 37) have been able to access health coverage through Maryland Health Connection for the first time, improving health equity. This legislation extends this program permanently with full funding through at least 2028. The bill sponsors were Delegate Ken Kerr and Senators Clarence Lam, Brian Feldman and Antonio Hayes.
“This legislation means tens of thousands of young Marylanders will be able to afford health insurance. This will give them peace of mind and access to affordable care. And we all benefit when more people have health insurance by bringing down premium costs,” DeMarco said. “We thank the General Assembly and Governor Moore for enacting this measure which will make Maryland a healthier state.”
