Bill > H7825

This bill requires the Secretary of the Executive Office of Health and Human Services (EOHHS) to oversee and enforce changes in how Pharmacy Benefit Managers (PBMs), which are companies that manage prescription drug benefits on behalf of health insurers or employers, set prices. Specifically, it mandates that PBMs stop using a practice called "spread pricing," where they charge a health plan more for a prescription drug than they pay the pharmacy and keep the difference. The goal is to increase transparency and accountability from PBMs to lower prescription drug costs for Rhode Islanders and the state's Medicaid program, and this change will take effect immediately upon its passage.

Budget and Finance

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