Bill

Bill > S2385


RI S2385

Regulates pharmacy benefit managers' policies and practices through rules and regulations promulgated by the office of health insurance commissioner, relating to accurate costs and pricing reporting, restricting discriminatory practices.


summary

Introduced
02/12/2024
In Committee
02/12/2024
Crossed Over
Passed
Dead
06/30/2024

Introduced Session

2024 Regular Session

Bill Summary

This act would protect patients, healthcare providers, and taxpayers from high prescription drug costs by requiring greater pharmacy benefit manager transparency and accountability. It gives the office of health insurance commissioner (OHIC) authority to promulgate regulations and oversee implementation. This act would take effect upon passage.

AI Summary

This bill aims to protect patients, healthcare providers, and taxpayers from high prescription drug costs by requiring greater pharmacy benefit manager (PBM) transparency and accountability. It gives the Office of Health Insurance Commissioner (OHIC) the authority to promulgate regulations and oversee implementation. Key provisions include: prohibiting PBMs from engaging in "spread pricing" and discriminatory practices, requiring 100% pass-through of manufacturer-derived revenues or discounts, and restricting utilization management policies that delay or discourage medically necessary care. The bill also mandates that PBMs provide detailed financial information to OHIC for enforcement purposes. The act would take effect upon passage.

Committee Categories

Health and Social Services

Sponsors (10)

Last Action

Committee recommended measure be held for further study (on 03/05/2024)

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