Health Committee Votes to Advance Jaquez Lewis & Buckner’s Bill To Lower Prescription Drug Costs

HB23-1225 would increase PDAB’s impact and lower out-of-pocket prescription drug costs

DENVER, CO – Today the Senate Health and Human Services Committee voted to advance Senators Sonya Jaquez Lewis, D-Longmont, and Janet Buckner’s, D-Aurora, bill to increase the effectiveness of the Prescription Drug Affordability Board (PDAB) to help lower out-of-pocket prescription drug costs for Coloradans.

HB23-1225 would allow PDAB to increase the limit on setting Upper Payment Limits (ULPs) to 18 per year if the board reaches the current annual cap of 12 ULPs and demonstrates a need for additional ULPs. Additionally, the bill would improve the criteria for selecting drugs for an affordability review.

“Over the past few years we have worked hard to save Coloradans money on life-saving prescription drugs,” said Jaquez Lewis. “Still, too many families’ budgets are squeezed by high costs of medication. The Prescription Drug Affordability Board is an essential tool to keep Colorado prescription drug prices affordable, and these changes will make the Board even more effective at saving families money on their life saving medications.”

“House Bill 1225 makes important changes that will increase the impact of the Prescription Drug Affordability Board,” Buckner said. “Too many Colorado families are forced to choose between putting food on the table or paying for life-saving medication, and that has to change. I’m proud to be a part of the effort to continue saving Coloradans money on out-of-pocket prescription drug costs.”

In 2021, lawmakers created the Prescription Drug Affordability Board to evaluate and place upper price limits on the highest cost prescription drugs. 

HB23-1225 now heads to the Senate floor for further consideration. You can follow the bill’s progress HERE.