Colorado § 10-16-1414 - Reports.

§ 10-16-1414. Reports.

(1) Notwithstanding section 24-1-136 (11)(a), on or before July 1, 2023, and on or before July 1 each year thereafter, the board shall submit a report to the governor, the health and insurance committee of the house of representatives, and the health and human services committee of the senate, or to any successor committees, summarizing the work of the board during the preceding calendar year. At a minimum, the report must include:

(a) Publicly available data concerning price trends for prescription drugs;

(b) The number of prescription drugs that were subjected to an affordability review by the board pursuant to section 10-16-1406, including the results of each affordability review;

(c) A list of each prescription drug for which the board established an upper payment limit pursuant to section 10-16-1407, including the amount of the upper payment limit;

(d) The impact of any upper payment limits established by the board pursuant to section 10-16-1407 on health-care providers, pharmacies, and patients' ability to access any prescription drugs for which the board has established upper payment limits;

(e) A summary of any judicial reviews of board decisions, including an indication of the outcome of any judicial review;

(f) A description of each conflict of interest that was disclosed to the board during the preceding year;

(g) A description of any violations of any of the provisions of this part 14, including an indication of any enforcement action taken in response to any such violation; and

(h) Any recommendations the board may have for the general assembly concerning legislative and regulatory policy changes to increase the affordability of prescription drugs and reduce the effects of excess costs on consumers and commercial health insurance premiums in the state.

(2) The board shall post the report described in subsection (1) of this section on the public web page maintained by the division for the board pursuant to section 10-16-1402 (3)(d).

(3) (a) The chair of the board shall present to the joint health and insurance committee of the house of representatives and health and human services committee of the senate, or any successor committees, which presentation occurs pursuant to the "State Measurement for Accountable, Responsive, and Transparent (SMART) Government Act", part 2 of article 7 of title 2, information concerning any prescription drug for which the board established an upper payment limit during the preceding calendar year. The chair shall summarize for the committee members:

(I) The affordability review of the prescription drug, including the results of the board's considerations as described in section 10-16-1406 (4) and, if applicable, section 10-16-1406 (6); and

(II) The establishment of the upper payment limit, including a summary of the methodology used to establish the upper payment limit.

(b) Based on the information presented in subsection (3)(a) of this section, members of the joint health and insurance committee of the house of representatives and health and human services committee of the senate, or any successor committees, may pursue legislation, if the majority of committee members vote to pursue such legislation, to discontinue the upper payment limit for any prescription drug for which the board established an upper payment limit. Any such legislation shall not count against any limitation upon the number of bills that a member of the general assembly may introduce each regular legislative session, which limitation may exist pursuant to rules adopted by the general assembly.

Source: L. 2021: Entire part added, (SB 21-175), ch. 240, p. 1274, § 2, effective June 16. L. 2023: IP(1), (1)(b), and (1)(e) amended, (HB 23-1225), ch. 162, p. 708, § 7, effective August 7.