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Senate advances bill to create PBM reverse auction for public employees' drug purchases
Summary
Senators discussed Senate File 315, described as creating a PBM reverse auction for public employees' health plans; the measure was moved for final reading and senators gave unanimous consent to message the bill to the next step while the Department of Administrative Services is already pursuing a related process.
Senator Webster, the senator from Scott, introduced Senate File 315 as legislation to add a pharmacy benefit manager (PBM) reverse auction for public employees' health plans.
“Senate file 315 is a bill that establishes a PBM reverse auction as part of public employees health plans,” Senator Webster said. He described the mechanism as “a transparent and competitive bidding process for qualified PBM bidders to submit proposals to an online system and allow counter offers for the lowest price…
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