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House passes PBM oversight bill requiring licensing and disclosure of pharmacy benefit managers
Summary
Substitute House Bill 229 passed the Ohio House unanimously on Oct. 8. The bill creates a standalone licensing regime for pharmacy benefit managers (PBMs), requires financial disclosures to plan sponsors and empowers audits by the superintendent of insurance.
The Ohio House on Oct. 8 unanimously approved substitute House Bill 229, legislation that sets up a standalone licensing process for pharmacy benefit managers and requires expanded transparency about PBM contracts and financial flows.
Representative Dieter, sponsor of the substitute, told the House PBMs have been “largely hidden from view” and that the bill aims to give plan sponsors, employers,…
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