Bill > SB547

This bill addresses the regulation and transparency of pharmacy benefit managers (PBMs) in New Hampshire by establishing new definitions, business practices, and reporting requirements. The legislation aims to address concerns about prescription drug costs, market concentration, and lack of transparency in the pharmaceutical supply chain. Key provisions include defining PBMs more comprehensively, establishing a fiduciary duty for PBMs to their health carrier clients, and prohibiting spread pricing (charging health carriers more than what is paid to pharmacies). The bill requires PBMs to submit quarterly reports to the insurance commissioner detailing rebates, administrative fees, and pharmaceutical spending, with the commissioner required to publish an annual transparency report. Additionally, the bill prevents PBMs from penalizing pharmacies or providing financial incentives that favor affiliated pharmacies, and it prohibits PBMs from imposing accreditation standards beyond state and federal requirements. The legislation is motivated by findings that prescription drug costs are a significant driver of healthcare expenses, with over half of New Hampshire residents worried about affording medications, and more than 25 percent reporting cost-related medication adherence challenges. The bill is set to take effect on October 1, 2026, and includes a severability clause to ensure that if any provision is found invalid, the rest of the act can still be implemented.

Health and Social Services

https://gc.nh.gov/bill_Status/billinfo.aspx?id=1321&inflect=2