Bill > SB210

This bill establishes a comprehensive licensing and regulatory framework for pharmacy benefit managers (PBMs) in Ohio, effective January 1, 2027. The legislation requires PBMs to obtain a license from the state superintendent of insurance, pay annual fees ($2,000 for initial application, $3,000 for renewal), and comply with extensive contractual and operational requirements. Key provisions include mandating written agreements with plan sponsors that detail services, compensation, and terms; requiring detailed record-keeping and financial reporting; prohibiting certain practices like using plan sponsor funds improperly or reimbursing affiliated pharmacies differently; and establishing oversight mechanisms that allow the superintendent to investigate, fine, or revoke licenses for misconduct. The bill defines numerous terms related to pharmacy services, such as "rebates" and "claims processing services," and creates transparency requirements for PBMs, including disclosing ownership relationships, rebates, and financial transactions. PBMs must maintain records for ten years, report annually to plan sponsors, and are subject to potential misdemeanor charges for non-compliance. The legislation aims to increase accountability and regulate the complex intermediary role that PBMs play in prescription drug benefits and pricing.

Health and Social Services

https://www.legislature.ohio.gov/legislation/136/sb210