The Florida House and Senate unanimously passed Senate Bill 662 that addresses the drug repackaging loophole in Florida’s workers’ compensation system and establishes fairness with prescription reimbursement rates. The legislation contains compromise language that clarifies the maximum costs for prescription medications that physicians are allowed to charge when they treat workers’ compensation patients.
“We have vehemently supported legislation to close the drug repackaging loophole over the past few years and we are thrilled to see this legislation pass with such support out of the Florida Legislature,” said Tom Feeney, president of Associated Industries of Florida (AIF). “Our workers’ compensation system has been on a path of continuous improvement since sweeping changes to the system were made in 2003, and on behalf of our members and Florida’s businesses, we thank the Legislature for passing this important fix that will allow these improvements to continue.”
“On behalf of our coalition, we thank Senator Hays and Representative Hudson for spearheading this worthy effort that will result in significant savings to Florida employers, and we thank members of the Legislature for their overwhelming support,” said Tamela Perdue, general counsel for AIF. “Year after year, we have come together to support proposals that would reinstate the necessary balance for the system to continue to see improvement and lower rates, and this year, these efforts have come to fruition.”
The National Council of Compensation Insurance (NCCI) has estimated that workers’ compensation system costs resulting from prescription drug markups totaled $250 million over a five-year period from 2007-2011. The NCCI has predicted that passage of Senate Bill 662 will result in savings to Florida’s employers as part of their rate filing this fall, and a total of $20 million in savings to the workers’ compensation system.