The House Insurance Committee convened recently, with a quorum present, to discuss significant legislative measures impacting the pharmacy sector and asbestos litigation.

The meeting commenced with the approval of minutes from the previous session, followed by a detailed examination of House Bill 505. Vice Chair Barhorst introduced an amendment, L1352199-5, which was accepted as a substitute bill. This amendment proposes several key changes aimed at redefining pharmacy reimbursement practices. Notably, it establishes that a pharmacy's actual acquisition cost will now include the invoice price paid to accredited drug wholesalers. Furthermore, it seeks to protect independent and community pharmacies by prohibiting pharmacy benefit managers (PBMs) from reimbursing them at rates lower than those offered to their affiliated pharmacies.

The bill also empowers pharmacies to lodge formal complaints with the Department of Insurance regarding any discrepancies or violations of the new provisions. Additionally, it includes measures to prevent retaliatory actions by PBMs against pharmacies that seek remedies under the law. Enforcement provisions will be established to ensure compliance among PBMs.

Following the discussion on House Bill 505, the committee turned its attention to Senate Bill 63, which aims to address the issue of \"overnaming\" in asbestos litigation—where defendants with no connection to the plaintiff are named in lawsuits. Senator George Lang provided sponsor testimony, emphasizing the need for clearer disclosures to mitigate this costly practice.

The committee's discussions reflect ongoing efforts to enhance regulatory frameworks in both the pharmacy and legal sectors, aiming to protect both healthcare providers and individuals involved in asbestos-related claims.