New Legislation Filed to Increase PBM Transparency
posted: December 2, 2019
The current rebate system allows for pharmacy benefit managers (PBMs) to reap profits on the backs of health plans and patients. In order to reduce drug costs and improve patient access to treatment, OAR believes increased transparency and appropriate oversight of how PBMs operate in Ohio should be of high priority for lawmakers.
In November, House Bill 396 was introduced which sets forth requirements for all PBMs to submit aggregate data on a quarterly basis to the Department of Insurance (DOI). Provisions in the bill require PBMs to report the amount of rebates received by the PBM from the manufacturer, the amount of rebates distributed to health plans, and the amount of rebates passed on to beneficiaries of each health plan that reduced the cost of their prescription drug at the point of sale.
Currently, HB 396 is in the House Health Committee. OAR submitted a letter of support to committee members in November.
View the Full Letter