| Last Action | 03/11/21: recommitted to Appropriations & Revenue (H) |
|---|---|
| Title | AN ACT relating to pharmacy benefit managers. |
| Bill Documents | Introduced |
| Fiscal Impact Statement | Fiscal Note |
| Bill Request Number | 60 |
| Sponsors | S. Sheldon, D. Bentley, A. Bowling, R. Bridges, R. Dotson, D. Frazier, R. Goforth, D. Hale, M. Hart, S. Heavrin, R. Huff, K. King, M. Koch, D. Lewis, S. Lewis, C. Massey, S. McPherson, P. Pratt, M. Prunty, B. Reed, S. Riley, B. Rowland, S. Sharp, N. Tate, W. Thomas, J. Tipton, K. Upchurch, R. Webber |
| Summary of Original Version | Create a new section of Subtitle 12 of KRS Chapter 304 to prohibit certain practices of pharmacy benefit managers; allow audits of contracts entered with pharmacy benefit managers; require certain disclosures relating to contracts with pharmacy benefit managers; require pharmacy benefit managers to file an annual report with the commissioner of insurance; provide that confidential or proprietary information disclosed to the Department of Insurance shall not be subject to disclosure under the Open Records Act; prohibit pharmacy benefit managers from sharing certain pharmacy records with pharmacy affiliates; authorize the commissioner of insurance to promulgate regulations relating to pharmacy benefit managers; amend KRS 304.17A-708, 304.17A-712, and 304.17A-714 to conform; provide for severability; require the commissioner of insurance to promulgate regulations to implement the Act on or before January 1, 2022; EFFECTIVE, in part, January 1, 2022. |
| Index Headings of Original Version |
Fiscal Note - Pharmacy benefit managers, regulation Drugs and Medicines - Pharmacy benefit managers, regulation Effective Dates, Delayed - Pharmacy benefit managers, regulation, January 1, 2022 Federal Laws and Regulations - Federal law, pharmacy benefit managers, exemptions Insurance, Health - Pharmacy benefit managers, regulation Pharmacists - Pharmacy benefit managers, regulation Administrative Regulations and Proceedings - Commissioner of Insurance, pharmacy benefit managers, regulation Reports Mandated - Commissioner of Insurance, pharmacy benefit managers, annual report |
| Jump to Proposed Amendments | House Committee Substitute 1 |
| 02/22/21 |
|
|---|---|
| 02/23/21 |
|
| 02/25/21 |
|
| 02/26/21 |
|
| 03/11/21 |
|
| Amendment | House Committee Substitute 1 |
|---|---|
| Summary | Retain original provisions, except specify that contracts with pharmacy benefit managers and a pharmacy or pharmacist, either directly or through a pharmacy services administration organization, shall prohibit certain practices; prohibit paying or reimbursing a pharmacy or pharmacist less than the national average drug acquisition cost or wholesale acquisition cost; prohibit creating, modifying, implementing, or establishing any fee on a pharmacy, pharmacist, or insured without prior approval from insurance commissioner, prohibit pharmacy benefit managers from requiring insureds to use a mail-order pharmaceutical distributor or a mail-order pharmacy; require contracts between an insurer or third-party payor and a pharmacy benefit manager to provide that the pharmacy benefit manager shall owe a fiduciary duty to the insurer or third-party payor; prohibit pharmacy benefit managers from utilizing any form of spread pricing. |
| Index Headings |
Effective Dates, Delayed - Pharmacy benefit managers, regulation, January 1, 2022 Federal Laws and Regulations - Federal law, pharmacy benefit managers, exemptions Insurance, Health - Pharmacy benefit managers, regulation Pharmacists - Pharmacy benefit managers, regulation Administrative Regulations and Proceedings - Insurance commissioner, pharmacy benefit managers, regulation Reports Mandated - Insurance commissioner, pharmacy benefit managers, annual report Drugs and Medicines - Pharmacy benefit managers, regulation |
Last updated: 5/18/2021 11:08 AM (EDT)
To receive notice when the record is updated follow @LRCTweetBot. @LRCTweetBot