An Act to enact pharmacy benefit manager duties
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to establish duties and regulations for pharmacy benefit managers (PBMs) operating in Massachusetts. It seeks to increase transparency and accountability in how PBMs operate, particularly regarding their reimbursement practices with pharmacies and their impact on prescription drug costs. The legislation intends to ensure fair pricing and access to medications for patients and pharmacies.
Key provisions
- Requires PBMs to disclose their rebate agreements with drug manufacturers.
- Establishes standards for PBM reimbursement rates to pharmacies.
- Promotes transparency in PBM fees and administrative costs.
- Addresses potential conflicts of interest within PBMs.
- Requires PBMs to provide data to the Department of Public Health.
- Focuses on ensuring fair pricing for prescription drugs.
- Mandates reporting of drug utilization data.
Who is affected
- Pharmacy Benefit Managers (PBMs)
- Pharmacies
- Patients
- Drug Manufacturers
- The Commonwealth of Massachusetts
Notable changes
- Increased transparency regarding rebate agreements.
- Potential adjustments to pharmacy reimbursement rates.
- Greater oversight of PBM practices.
Bill text
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Sponsors
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2 on record
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Cosponsor
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