HB4548 - INS-PHARMACY BENEFIT MANAGERS

5 Co-Sponsors

Reinserts the provisions of the introduced bill with the following changes. Provides that "rebate aggregator" means a person or entity that negotiates rebates, discounts, or other fees attributable to usage by covered individuals (instead of negotiates rebates) with drug manufacturers on behalf of pharmacy benefit managers or their clients and may also be involved in contracts that entitle the rebate aggregator or its client to receive rebates, discounts, or other fees attributable to usage (instead of receive rebates) by covered individuals from drug manufacturers based on drug utilization or administration. Provides that the annual report by a pharmacy benefit manager that provides services for a health benefit plan must include the net cost of the drugs covered by the health benefit plan. Excludes Medicaid managed care organizations and employee welfare benefit plans subject to the federal Employee Retirement Income Security Act of 1974 from the definitions of "health benefit plan", "pharmacy benefit manager", and "third-party payer". Effective July 1, 2024.