Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Pbm Transparency topic
No spam. Unsubscribe anytime.
Pharmacists and employers back H.B. 229 to increase PBM transparency and oversight
Summary
Supporters told the committee that Sub. H.B. 229 creates a standalone PBM licensing chapter, sets reporting standards and exam authority for the Department of Insurance, and would improve transparency and accountability in pharmacy benefit administration.
David Burke, executive director of the Ohio Pharmacists Association, and Molly Matram, director of health care policy for the Ohio Chamber of Commerce, urged the committee to support Substitute House Bill 229 to increase transparency and oversight of pharmacy benefit managers (PBMs).
Burke said PBMs now control a large share of pharmacy networks and that H.B. 229 would create a stand‑alone PBM chapter in state law, require licensing, standardize reporting and record retention, define fiduciary duties, and give the superintendent of insurance examination authority over PBM books and records while maintaining confidentiality.
Matram said the bill would help employers and employees by providing consistent financial reporting on rebates, discounts, administrative fees and other PBM revenues and expenditures, giving purchasers better ability to compare value across PBMs.
Supporters emphasized the legislation is designed to provide transparency and oversight rather than set prices or payments. Committee members asked questions about PBM roles and the bill’s effect on purchasers and pharmacies; witnesses said the bill aims to supply information to those who buy benefits and does not mandate plan design.
