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Ohio committee hears sponsor testimony on bill to license pharmacy benefit managers
Summary
The House General Government Committee held a first hearing on House Bill 229, which would create a licensing and reporting framework for pharmacy benefit managers (PBMs) and place PBM rules in a distinct chapter of the state insurance code to increase transparency and Department of Insurance oversight.
Representative Dieter, sponsor of House Bill 229, told the House General Government Committee that the bill would establish licensing requirements and standardized reporting for pharmacy benefit managers (PBMs), moving PBMs into a dedicated chapter of the state insurance code and giving the Department of Insurance clearer authority to oversee them.
Dieter said the PBM industry has consolidated in ways that affect pricing and access, telling…
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