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Sponsor says PBM licensing, disclosure bill will shed light on drug pricing; committee holds first hearing
Summary
Representative Dieter told the Financial Institutions Insurance Technology Committee that Substitute House Bill 229 would establish licensing, oversight and transparency requirements for pharmacy benefit managers under the Department of Insurance.
Representative Dieter told the Financial Institutions Insurance Technology Committee that Substitute House Bill 229 would establish licensing, oversight and transparency requirements for pharmacy benefit managers, or PBMs, under the Department of Insurance.
Dieter said PBMs "manage and administer prescription drug benefits" and that their operations are largely hidden from employers, patients and…
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