ORS 743.025 Annual report of information related to prescription drugs covered by health benefit plans; reports to Legislative Assembly

As used in this section, “health benefit plan” has the meaning given that term in ORS 743B.005.

An insurer shall annually report the following information to the Department of Consumer and Business Services, in the form and manner prescribed by the department, regarding drugs reimbursed by the insurer under health benefit plans issued by the insurer in this state:

The 25 most frequently prescribed drugs;

The 25 most costly drugs as a portion of total annual spending;

The 25 drugs that have caused the greatest increase in total plan spending from one year to the next; and

The impact of the costs of prescription drugs on premium rates.

The department shall conduct a public hearing annually on prescription drug prices, information reported to the department under ORS 646A.689 and information described in subsection (2) of this section.

The department shall regularly update the interim committees of the Legislative Assembly related to health on the information described in subsection (2) of this section.

Subsection (2) of this section applies to an insurer that issues health benefit plans for sale in this state that include a prescription drug benefit.