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Committee holds wide PBM overhaul bill for targeted fixes; DOI to draft narrower amendment
Summary
Lawmakers set aside a broad pharmacy benefit manager overhaul (SB665) after the Department of Insurance identified several contentious provisions — fiduciary duty language, steering restrictions, fine amounts and rebate treatment — and proposed drafting a focused amendment capturing consensus reporting and transparency measures.
A comprehensive pharmacy benefit manager (PBM) reform bill that would remake reporting, recordkeeping and certain commercial‑drug practices was placed on hold by a Commerce & Consumer Affairs subcommittee on Tuesday while stakeholders negotiate a narrowed amendment.
Insurance Department staff told members that many reporting and documentation provisions in the 14‑section bill…
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