New Law Enables Comparisons of Drug Coverage in Exchange Plans

CAHealthLawGovernor¬†Jerry Brown (D) signed a bill (SB 1052) that will allow consumers to better compare prescription drug coverage when selecting a health insurance plan. The law by state Sen. Norma Torres (D-Pomona), requires the California Department of Managed Health Care and the Department of Insurance to develop a uniform template for insurers to use when they share drug formularies. The agencies have until January 1, 2017, to create the standardized template, at which point the formularies must be updated every month. ¬†In addition, the law requires the Covered California board to create a search tool on the site for consumers to compare health plans’ cost and coverage of particular drugs; and provide Web links on the exchange website to health plans’ drug formularies. You can read the complete text of the bill here.