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Two additional PBM bills introduced: ownership ban and fiduciary duty draw mixed reactions
Summary
Representative Kim Wallen introduced two companion PBM measures Feb. 4 that would (1) bar insurers from owning PBMs licensed in Oregon and (2) impose a statutory fiduciary duty on PBMs to act in patients’ interests.
Representative Kim Wallen introduced two bills related to pharmacy benefit managers during the committee’s Feb. 4 session and gave brief testimony on each.
Wallens’s first measure, House Bill 2,252, would prohibit a PBM licensed in Oregon from being owned by an insurer or from owning an insurer. The goal, she said, is to constrain vertical integration that can create conflicts when a PBM and an insurer (or a PBM and a pharmacy chain) are under common ownership.
"This would just simply say that if you have a PBM license in Oregon, you would have to prove to DCBS's satisfaction that you are not owned by or…
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