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 manage prescription drug costs and contracts with pharmacies and healthcare providers. The legislation intends to ensure fair pricing and prevent practices that may negatively impact patient access to medications and pharmacy revenue.
Key provisions
- Requires PBMs to disclose their pricing and rebate practices.
- Establishes standards for PBM contracts with pharmacies.
- Promotes transparency in PBM reimbursement rates.
- Addresses potential conflicts of interest within PBMs.
- Requires PBMs to provide data to the Department of Public Health.
- Focuses on ensuring fair payment to pharmacies.
- Mandates reporting of certain financial transactions.
- Creates a process for reviewing PBM practices.
Who is affected
- Pharmacy Benefit Managers (PBMs)
- Pharmacies
- Patients
- Healthcare Providers
- The Commonwealth of Massachusetts
Notable changes
- Increased transparency regarding PBM pricing and rebates.
- Potential changes to PBM contracts with pharmacies.
- Greater oversight of PBM practices within the state.
Bill text
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Sponsors
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2 on record
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Cosponsor
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