Bill > SB1509

This bill requires the Legislative Reference Bureau (LRB), a state research agency, to conduct a comprehensive study on pharmacy benefit managers (PBMs) and strategies to reduce prescription drug costs for health insurance plan beneficiaries. Specifically, the study will assess regulatory standards for PBMs in other states and examine best practices that can potentially lower prescription drug expenses and increase transparency in the health insurance system. The LRB is mandated to submit a detailed report with its findings and recommendations, including proposed legislation, to the state legislature no later than 20 days before the start of the 2026 regular legislative session. While the bill is technically set to take effect on December 31, 2050, its immediate purpose is to initiate a research effort aimed at understanding and potentially addressing prescription drug pricing and PBM practices. Pharmacy benefit managers are third-party administrators that manage prescription drug programs for health insurers, and this bill seeks to explore ways to make their operations more efficient and cost-effective for consumers.

Business and Industry, Health and Social Services

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=1509&year=2025