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Panel punts on PBM regulation bill; members seek funding structure and ERISA guidance before advancing
Summary
The committee deferred action on House Bill 15‑84, a PBM regulation bill, citing unresolved questions about enforcement funding, a $2.25 million fiscal estimate and the risk that federal ERISA law could preempt parts of the proposal.
The Government Operations Division heard extensive discussion of House Bill 15‑84, a proposed regulatory framework for pharmacy benefit managers (PBMs). Committee members did not vote on the measure; instead they directed staff and sponsors to draft amendments addressing funding, staffing, and the potential for ERISA preemption and litigation.
Senator Sickler proposed creating a dedicated PBM enforcement fund to receive existing pharmacy board fee revenues (approximately $600,000 annually from wholesale licensure fees and an existing balance of about $1.7 million in the drug pricing/transparency fund) rather than relying on the insurance regulatory trust fund and a continuing appropriation. Deputy Insurance Commissioner John Arnold testified the bill’s fiscal note was…
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