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Senate passes bill to license and limit PBM practices, banning spread pricing and adding fees
Summary
The Senate passed H233 establishing licensure and oversight of pharmacy benefit managers (PBMs), banning spread pricing and certain copay‑accelerator practices, and creating DFR positions funded by new fees and an appropriation. The bill includes confidentiality limits on materials provided to the Office of the Health Care Advocate.
The Senate on the floor took up and passed H233, an act to license and regulate pharmacy benefit managers (PBMs), after extended debate and adoption of committee amendments. The bill creates a new statutory chapter on PBMs, requires PBMs to file advertising materials with the Department of Financial Regulation (DFR) for approval, and sets licensure fees: a $1,600 application fee, a $10,000 initial licensure fee and a $12,000 annual renewal fee. The bill bans spread pricing and curbs copay‑accelerator practices that inflate…
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