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Bill

A 6764

Relates to reporting requirements for pharmacy benefit managers

2025 Regular Session Introduced by David Weprin

PBMs would have to report to the state insurance regulator, boosting transparency; primary impact on PBMs, with insurers, employers, pharmacies, and patients affected indirectly.

REFERRED TO INSURANCE
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Bill Summary · A 6764

Summary of Bill A 6764 — Relates to reporting requirements for pharmacy benefit managers

Basic information

  • Bill number: A 6764
  • Title: Relates to reporting requirements for pharmacy benefit managers
  • Sponsor: David Weprin (primary)
  • Introduced: March 12, 2025
  • Status: REFERRED TO INSURANCE (as of introduction)
  • Legislative actions: On 2025-03-12, the bill was referred to the Insurance Committee.

Purpose and intent

  • The bill aims to establish or modify the reporting requirements imposed on pharmacy benefit managers (PBMs). The objective, based on the title, is to increase transparency and regulatory oversight of PBM activities within the state. Specific reporting elements, frequency, and deadlines are not provided in the available information.

Key provisions (as described)

  • The provided details do not include the bill’s text, so exact provisions, data elements, reporting timelines, penalties, or exemptions are not specified here.
  • At a high level, the measure would obligate PBMs to submit information to the state’s regulatory authority (consistent with the “reporting requirements” framing). The reporting could pertain to practices such as network design, rebates, formulary management, pricing, or other PBM operations, but the exact scope is not disclosed.

Affected parties

  • Primary impact: Pharmacy benefit managers operating within the state would be subject to new or revised reporting obligations.
  • Secondary impacts: Health insurers, employers, pharmacies, and patients may be affected indirectly through changes in transparency, oversight, or PBM practices stemming from enhanced reporting requirements.
  • Regulators: The state insurance or other designated regulatory agency would receive and review the reporting data.

Procedural and timeline aspects

  • The bill has been introduced and referred to the Insurance Committee, indicating it is in the early stages of the legislative process.
  • If advanced, it would likely proceed through committee hearings, potential amendments, and votes in the chamber of origin, followed by consideration in the other legislative chamber and, if enacted, signature or veto by the governor. Specific deadlines, fiscal notes, and implementation timelines are not provided.

Additional notes

  • The available information does not include the bill text, data elements to be reported, reporting frequency, penalties for non-compliance, or effective dates. The summary reflects the bill’s stated purpose and current procedural status based on the provided details.

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

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