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Bill

SB 1500

Pharmacy benefit managers; prohibiting certain payment from conditioned on certain provisions; prohibiting certain provider from bearing risks; requiring certain payments; establishing accounting requirements; authorizing Attorney General to levy fines. Effective date.

2026 Regular Session Introduced by Darcy Jech and 1 co-sponsor

SB 1500 restricts Oklahoma pharmacy benefit managers' payment practices, eliminates provider risk-shifting, mandates accounting transparency, and enables AG enforcement through fines.

Vetoed 05/06/2026
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WeVote Research Nonpartisan
Bill Summary · SB 1500

Legislative bill overview

SB 1500 regulates pharmacy benefit managers (PBMs) in Oklahoma by prohibiting conditional payment arrangements, restricting risk-shifting to providers, and establishing new accounting and transparency requirements. The bill empowers the Oklahoma Attorney General to enforce these provisions through fines and sets penalties for non-compliance.

Why is this important

PBMs act as intermediaries between insurers, pharmacies, and patients, controlling drug pricing and reimbursement. This bill addresses concerns that PBMs use opaque practices and unfavorable contract terms that increase costs for patients and burden independent pharmacies. Stronger oversight could improve price transparency and market fairness, though implementation details will determine real-world effectiveness.

Potential points of contention

  • Scope and enforceability: The bill's specific prohibitions on "certain payments" and "conditioned provisions" lack detailed definitions in this summary, creating uncertainty about what practices are actually restricted and how consistently they'd be enforced.
  • Industry compliance costs: PBMs may argue that new accounting requirements and compliance obligations increase operational expenses, potentially passed to consumers through higher premiums or drug prices.
  • Provider protection limits: Restrictions on "risk-bearing" by providers could help pharmacies but might be challenged as overly prescriptive or unintentionally limiting legitimate contract negotiations between sophisticated business parties.

Compiled from official sources — confirm details with the bill’s official record.

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