Bill > HB129

This bill amends the Pharmacy Benefits Manager Regulation Act in New Mexico to increase transparency. It requires pharmacy benefits managers (PBMs) to submit annual transparency reports detailing their rebates, administrative fees, and retained rebate percentages for each of their relationships with health benefit plans or health insurance issuers. The bill also prohibits PBMs from publishing or disclosing confidential information, such as the identity of specific health plans, drug prices, or rebate amounts. Additionally, the bill requires PBMs to calculate an enrollee's cost-sharing based on the price reduced by 100% of all rebates received, and to include all third-party payments or financial assistance when calculating an enrollee's cost-sharing. The bill aims to provide greater visibility into PBM practices and ensure that enrollees benefit from the full value of prescription drug rebates.

Budget and Finance, Health and Social Services, Justice

https://www.nmlegis.gov/lcs/legislation.aspx?chamber=H&legtype=B&legno=129&year=21