Rep. Hall Introduces the Prescription Relief and Inflation Cost Elimination Act

COLUMBUS — State Rep. Derrick Hall (D-Akron) this week introduced the Prescription Relief and Inflation Cost Elimination Act, or the P.R.I.C.E. Act. This legislation, HB 890, establishes a Prescription Drug Affordability Board and a stakeholder council within the Department of Insurance to review prescription drug pricing and improve affordability. The board will analyze high-cost drugs, determine whether they create affordability problems for patients or the health system, and set upper payment limits for certain drugs when needed, based on factors such as wholesale acquisition costs, price increases, rebates, patient cost-sharing, and overall market impact. The P.R.I.C.E. Act also repeals a prior transparency advisory council law and creates a dedicated fund to support the board’s operations and enforcement activities.

“Affordability is an issue that concerns all Ohioans, regardless of political party, and we as legislators have a responsibility to act in the best interest of our constituents’ health, happiness, and security. When Ohio is healthy, we strengthen our economy, reduce costs, improve academic performances, and become a role model for other states,” said Rep. Hall.

The Prescription Drug Affordability Board will conduct regular reviews, issue annual reports on drug pricing trends, and review stakeholder input through the council. The P.R.I.C.E. Act aims to improve access to prescription drugs for patients, improve health outcomes in Ohio, and bring affordability back to healthcare.