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  • Writer's pictureJennifer Lindstrand

Right to Know Act

On Wednesday, October 10th President Trump signed into law S. 2553 and S. 2554 which are known as the "Know the Lowest Price Act" and the "Patient Right to Know Drug Price Act". These bills ban "gag clauses" that prevent pharmacists from disclosing lower retail prices for prescriptions compared to insurance-based prices.

S. 2553 addresses clients covered under Medicare Part D and Medicare Advantage plans. This bill prohibits a prescription drug plan under Medicare from restricting a pharmacist from providing you with complete price information on a medication.

S.2554 applies to private plans and would ban health insurers and group health plans from restricting pharmacists from telling you that it would be more cost effective to pay out-of-pocket, as opposed to paying your insurance co-payment.

What this means to you is that if your co-pay is more than the cost of the drug- you will only pay the cost of the drug! Sounds like a win-win situation.

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