HB 1554

Abstract

Creates the Prescription Drug Price Finder Act. Requires the Department on Aging to establish and maintain an online clearinghouse to be known as the State of Illinois Prescription Drug Price Finder. Provides that the Drug Price Finder shall identify the 25 most commonly prescribed drugs in Illinois, as reported by pharmacies to the Department of Public Aid, and their prices. Provides that the Department on Aging shall enter into an interagency agreement with the Department of Public Aid and the Department of Financial and Professional Regulation for the purpose of implementing the Drug Price Finder program. Provides that any licensed pharmacist or pharmacy in the State may participate in the Drug Price Finder program, and requires the Department of Financial and Professional Regulation to cooperate with the Department on Aging in encouraging pharmacists and pharmacies to participate in the program. Sets forth the information that must be made available on the Drug Price Finder Web site, and requires the Department on Aging to update the information contained on the Drug Price Finder Web site every 2 months. Requires that the Drug Price Finder program be fully operational within 6 months after the effective date of the Act. Requires the Department on Aging to evaluate the Drug Price Finder program after 18 months and report its findings and recommendations to the General Assembly. Effective immediately.