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Senate advances PBM transparency measure requiring rebate reporting and licensing
Summary
Senators passed Third Substitute House Bill 370 to require pharmacy benefit managers to report rebates to the Department of Insurance and to be licensed there, with auditing and contracting provisions; bill passed under suspension, 24–0 (5 absent).
Senators voted to pass Third Substitute House Bill 370, a measure targeting pharmacy benefit managers (PBMs) with new transparency and licensing requirements.
Sponsor Senator Vickers said the bill requires rebate reporting to the Department of Insurance, makes PBM licensing a Department of Insurance responsibility rather than a Department of Commerce…
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