A 5020
Prohibits pharmacy benefit manager from using spread pricing as model of prescription drug pricing; requires transparency in provision of pharmacy benefits management services.
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Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill prohibits pharmacy benefit managers (PBMs) from using spread pricing, a practice where they charge a difference between the price they pay for drugs and the price they charge health plans, as a model for prescription drug pricing. It also requires PBMs to be transparent about their pharmacy benefits management services, including submitting financial statements and reporting on the impact of their pricing on health plan costs. The bill aims to increase fairness and reduce costs for consumers and health plans.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Luanne Peterpaul
Cosponsor
Vincent Kearney
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