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4% Tax Cut, Pharmacy Compensation in Ohio Budget
By: Associated Press
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COLUMBUS, Ohio (AP) — The latest version of Ohio’s proposed two-year state budget would cut personal income taxes by 4%, keep a debated business tax break and change how pharmacy benefits are administered for Medicaid users to boost transparency and control those costs.
The plan passed Tuesday by a conference committee also would direct $100 million to pharmacies to compensate for low reimbursements and have the Department of Medicaid contract directly with one pharmacy benefit manager, instead of working through multiple PBMs and managed care plans.
The Republican-led Legislature faces a Wednesday deadline to pass a budget. The House and Senate have been hashing out differences between their versions of the $69 billion spending plan, including on taxes, health care policies and educational funding.
GOP Gov. Mike DeWine can veto provisions he doesn’t approve.