An Act relative to pharmacy benefit managers reimbursements to pharmacies in the Commonwealth
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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 addresses how pharmacy benefit managers (PBMs) reimburse pharmacies in Massachusetts. It aims to increase the amount PBMs pay pharmacies for prescription drugs, arguing that current reimbursement rates are too low and negatively impact pharmacy businesses. The legislation seeks to ensure pharmacies receive fair compensation for their services and to improve access to medications for patients. It also seeks to increase transparency in the reimbursement process.
Key provisions
- Requires PBMs to reimburse pharmacies at a rate that covers the cost of dispensing medications.
- Establishes a process for determining fair reimbursement rates.
- Promotes transparency in PBM reimbursement practices.
- Directs the Department of Public Health to study and report on PBM practices.
- Requires PBMs to provide pharmacies with detailed information about reimbursement rates.
- Addresses potential conflicts of interest within PBMs.
- Focuses on ensuring pharmacies receive adequate compensation for their services.
- Mandates reporting requirements for PBMs regarding their reimbursement practices.
Who is affected
- Pharmacies
- Pharmacy Benefit Managers (PBMs)
- Prescription Drug Consumers
- Massachusetts Residents
- Healthcare Providers
Notable changes
Bill text
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Sponsors
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2 on record
Primary sponsor
Cosponsor
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