Bill > SB209

This bill revises provisions relating to pharmacy benefit managers (PBMs), introducing comprehensive regulations to increase transparency and prevent potentially unfair practices in prescription drug management. The bill expands the definition of "pharmacy benefits plan" to include pharmacist services and imposes several key requirements on PBMs, including: prohibiting PBMs from requiring patients to use affiliated pharmacies, banning spread pricing (where PBMs charge insurers more than they pay pharmacies), mandating full disclosure of fees and rebates to insurers, and requiring PBMs to pass along manufacturer rebates to either covered patients or insurers. PBMs must now submit detailed annual reports to the Insurance Commissioner about drug pricing, rebates, and other financial information, which will be used to compile a biennial report on the impact of PBMs on prescription drug costs. The bill also requires insurers to use any rebate money received from PBMs solely for reducing premiums or cost-sharing obligations for patients. Additionally, the legislation provides pharmacies with a legal cause of action against PBMs who retaliate against them for reporting potential violations, with potential statutory damages of $5,000 per violation. The bill's provisions will become effective on January 1, 2026, applying to contract renewals after that date, with the goal of increasing transparency and potentially reducing prescription drug costs for consumers.

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https://www.leg.state.nv.us/App/NELIS/REL/83rd2025/Bill/12267/Overview