Bill > H1155

This bill aims to enact new regulations for pharmacy benefit managers (PBMs), which are entities that manage prescription drug benefits on behalf of health insurance plans. The key provisions of the bill include: 1. Defining the "pharmacy benefit manager duty" - a duty and obligation for PBMs to perform their services with care, skill, prudence, diligence, fairness, transparency, and professionalism, and in the best interests of enrollees, health plans, and providers. 2. Establishing PBM duties to enrollees (including transparency and disclosure requirements), health benefit plans (including requirements for disclosing "spread pricing" practices), and providers (including transparency and disclosure). 3. Stating that in cases of conflict, the duty owed to enrollees takes priority over duties to other parties. 4. Authorizing the state insurance commissioner to adopt regulations to implement the law, and to impose penalties on PBMs found in violation of the law's requirements. The bill aims to increase oversight and accountability for PBMs in managing prescription drug benefits on behalf of health plans and their enrollees.

Business and Industry, Health and Social Services

https://malegislature.gov/Bills/193/H1155