The Board is charged with protecting State residents, State and local governments, commercial health plans, health care providers, pharmacies licensed in the State, and other stakeholders within the health care system from the high costs of prescription drug products. The work of the Board is funded through the Prescription Drug Affordability Fund.
The Prescription Drug Affordability Fund is a special, non-lapsing fund administered by the Board to provide funding for its work. It is composed of revenue collected from this assessment, money appropriated in the State budget for the Fund, interest earnings, and any other money accepted for the benefit of the Fund.
Section 21-2C-11 of the Health-General Article, Annotated Code of Maryland, directs the Maryland Prescription Drug Affordability Board to assess manufacturers, distributors, carriers and pharmacy benefits managers an annual assessment to fund the Prescription Drug Affordability Fund. By regulation, COMAR 14.01.02, the assessment is $1,000 per year.
Regulations
