14 Apr Assembly Commerce and Labor Committee Votes to Pass Assembly Bill 250 Addressing Affordable Prescription Drugs in Nevada During a Work Session
FOR IMMEDIATE RELEASE: April 14, 2023
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Assembly Commerce and Labor Committee Votes to Pass Assembly Bill 250 Addressing Affordable Prescription Drugs in Nevada During a Work Session
Advocates Celebrate the Passage of AB250 in the Assembly Commerce and Labor Committee
CARSON CITY, NV – Today, the Assembly Committee on Commerce and Labor held a work session on Assembly Bill 250 (AB250), ensuring that prescription drugs are affordable for all Nevadans. Legislators voted 7 to 5 to pass the bill. AB250 will move to the Assembly Floor next.
Annette Magnus, Executive Director, of Battle Born Progress issued the following statement:
“We thank the Assembly Commerce and Labor Committee for passing Assembly Bill 250 (AB250) today and Assemblywoman Venicia Considine for bringing this legislation forth. This bill will expand on some of the affordability measures of prescription drugs, as outlined in the Inflation Reduction Act, to all Nevada residents. It is our honor to support Assemblywoman Considine as she moves this bill forward and we thank her for her continued support on this critical measure.
Thanks to President Biden signing the Inflation Reduction Act into law last summer, several thousands of Nevadans are seeing their drug costs coming down. This includes 390,000 Nevadans with Medicare Part D who will see out-of-pocket pharmacy costs capped at $2,000 per year, starting in 2024, 22,000 Nevada Medicare beneficiaries who use insulin, which will be capped at $35 a month starting this year, about 4,400 Nevada low-income Medicare beneficiaries who qualify for expanded benefits under Extra Help, and some 28,000 Nevada Medicare beneficiaries who will receive $0 cost-sharing on vaccines under a Part D plan. On top of all of this Medicare was finally given the authority to negotiate drug prices with Big Pharma companies, to help drive down costs across the board.
“However, as the President noted, we aren’t done yet. That’s why we’re calling on the Nevada State Assembly to finish the job and support AB250 in the coming days.”
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