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 in how PBMs operate, particularly regarding their reimbursement practices with pharmacies and their impact on drug costs. The legislation intends to ensure fair pricing and prevent potential conflicts of interest within the pharmaceutical supply chain. Ultimately, the goal is to lower prescription drug costs for patients and pharmacies.
Key provisions
- Requires PBMs to disclose their rebate and discount practices.
- Establishes standards for PBM reimbursement rates to pharmacies.
- Addresses potential conflicts of interest between PBMs and drug manufacturers.
- Promotes transparency in PBM contracts.
- Requires PBMs to provide data on drug utilization.
- Mandates reporting of PBM fees and expenses.
- Focuses on ensuring fair pricing for prescription drugs.
- Creates a process for reviewing PBM practices.
Who is affected
- Pharmacy Benefit Managers (PBMs)
- Pharmacies
- Prescription Drug Manufacturers
- Patients
- The Commonwealth of Massachusetts
Notable changes
- Increased transparency regarding PBM rebates and discounts.
- Standardized reimbursement rates for pharmacies.
- Potential limitations on PBM conflicts of interest.
Bill text
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Sponsors
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2 on record
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