Bill > S1682

This bill, titled the "Prescription Drug Price Transparency Act", aims to increase transparency and regulation of pharmacy benefit managers (PBMs) and prescription drug pricing. Key provisions include: - Authorizing pharmacies and pharmacists to contract with PBMs without restrictive requirements. - Prohibiting PBMs from engaging in certain practices like spread pricing, charging pharmacy fees, and preventing pharmacies from informing consumers about prescription drug pricing. - Requiring PBMs to disclose financial information and pass through savings to health plans and consumers. - Mandating prescription drug manufacturers to report wholesale acquisition cost information and price increases. - Requiring health insurers and health maintenance organizations to report data on prescription drug spending and utilization. - Applying these new requirements to contracts entered into or renewed on or after January 1, 2021. The overall goal is to increase oversight and accountability around prescription drug pricing and PBM practices in order to reduce costs for health plans, pharmacies, and consumers.

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https://www.flsenate.gov/Session/Bill/2020/1682