Colo. Rev. Stat. § 10-16-122.7 – Disclosures between pharmacists and patients - carrier and PBM prohibitions - enforcement - short title - legislative declaration - preemption by federal law - rules.

(1) The short title of this section is the Patient Drug Costs Savings Act.
(2) The general assembly hereby finds and declares that:
1. (a) Consumers have the right to know about options to reduce the amount of money they pay at a pharmacy for prescription drugs; and
2. (b) This section will save consumers money by allowing pharmacists to provide information concerning the cost of prescription drugs.
(3) A carrier that has a contract with a pharmacy or pharmacist, or a pharmacy benefit management firm acting on behalf of a carrier, shall not:
1. (a) Prohibit a pharmacy or pharmacist from providing a covered person information on the amount of the covered person's cost share for the covered person's prescription drug and the clinical efficacy of a more affordable alternative drug that is therapeutically equivalent, as defined in section 12-280-103 (52), to the prescribed drug if one is available;
2. (b) Penalize a pharmacy or a pharmacist for disclosing the information described in subsection (3)(a) of this section to a covered person or selling a more affordable alternative to a covered person; or
3. (c) Require a pharmacy to charge or collect a copayment from a covered person that exceeds the total charges submitted by the network pharmacy.
(4)
1. (a) If the commissioner determines that a carrier has not complied with this section, the commissioner shall institute a corrective action plan for the carrier to follow or use any of the commissioner's enforcement powers under this title 10 to obtain the carrier's compliance with this section.
2. (b) With regard to the requirements of this section applicable to PBMs, the commissioner has the authority to enforce this section and to impose a penalty or other remedy against a pharmacy benefit management firm that fails to comply with this section.
(5) If any provision of this section is inconsistent with, or in conflict with, an applicable federal law, rule, or regulation, the applicable federal law, rule, or regulation applies.
(6) The commissioner may adopt rules to implement and enforce this section.

Source: L. 2018: Entire section added, (HB 18-1284), ch. 181, p. 1233, § 1, effective August 8. L. 2019: (3)(a) amended, (HB 19-1172), ch. 136, p. 1655, § 48, effective October 1. L. 2023: (4) amended and (6) added, (HB 23-1227), ch. 160, p. 696, § 5, effective August 7.