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Senate hearing spotlights PBM practices, with pharmacists urging closing of loopholes and insurers warning of higher costs
Summary
Senator Hammer presented SB520 to tighten pharmacy benefit manager (PBM) rules, close loopholes around generic effective rate arrangements and require reporting on rebates; pharmacists and independents urged passage to protect patient access, while AHIP warned the bill could raise costs.
The Senate Insurance & Commerce committee took up SB520, a comprehensive bill aimed at tightening oversight of pharmacy benefit managers (PBMs), increasing transparency on rebates, prohibiting certain spread-pricing practices and establishing a professional dispensing fee.
Sponsor Senator Hammer framed the bill as closing loopholes that PBMs use to circumvent Arkansas’ MAC (Maximum Allowable Cost) laws and other regulations. Ruth Boothran of the Arkansas Insurance Department summarized a…
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