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This bill amends the Medicare Part D prescription drug program to require that prescription drug plans include certain lower-cost generic drugs and biosimilar biological products in preferred formulary positions. Specifically, plans must include all generic drugs cheaper than their brand-name reference drugs and at least two biosimilar products cheaper than their reference biological products in preferred tiers with lower patient cost-sharing. The bill also prohibits plans from imposing more restrictive access limits (such as prior authorization or step therapy) on these required generic and biosimilar drugs than on their brand-name counterparts.
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