Prescription Drug Price Transparency Act
Utah Code 31A-48-103 requires the Utah Insurance Department to collect pharmacy drug information from drug manufacturers and health insurers operating in Utah.
Pharmacy Drug Manufacturers
As required by Utah Code 31A-48-103(1), pharmacy drug companies that are manufacturing a drug available for purchase by Utah residents with a wholesale acquisition cost of at least $100 or more for a 30-day supply are required to submit to the Department the wholesale acquisition cost of a drug when an increase in the wholesale acquisition cost of the drug is 1) greater than 16 percent over the preceding two calendar years, or 2) greater than 10 percent of the preceding calendar year.
For drug manufacturers, for information on how to register with the Department and submit drug price transparency reports through the UID Pharmacy Web Portal, click here.
To review summary reports of the information submitted to the Department by drug manufacturers, click here.
As required by Utah Code 31A-48-103(2), health insurers offering health benefit plans in Utah are required to report to the Department the following information by August 1 of each year:
- the 25 drugs for which spending by the health insurer was the greatest, after adjusting for rebates;
- the percentage increase over the previous year in net spending for all drugs, after adjusting for rebates; and
- the percentage of the increase in premiums over the previous year attributable to all drugs and specialty drugs.
The Department is required to publish this information on the Department’s website by December 1 each year and in a manner that protects the identity of a health insurer.
To review summary reports of the information submitted to the Department by Health Insurers, click here.