HB14-1213

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HB14-1213 - Pharmacy Benefit Manager Requirements

Passed/Signed into Law
Concerning Pharmacy Benefit Manager Maximum Allowable Cost Pricing Requirements For Prescription Drugs.

The bill requires a pharmacy benefit manager (PBM) to include the basis for determining maximum allowable cost pricing in each contract between a pharmacy benefit manager and a pharmacy, update the pricing information at least every 7 days. The bill also requires a PBM to maintain a procedure to eliminate products from the list of drugs subject to maximum allowable cost pricing.

In order for a prescription drug to be placed on a maximum allowable cost list, the bill requires a PBM to ensure that the drug meets specific requirements.

The bill requires each contract between a PBM and a pharmacy to include a process to appeal, investigate, and resolve disputes regarding maximum allowable cost pricing.

Latest update: June 6, 2014
06/06/2014 Governor Signed
05/02/2014 Sent to the Governor
05/01/2014 Signed by the President of the Senate
05/01/2014 Signed by the Speaker of the House
04/28/2014 Senate Third Reading Passed - No Amendments
04/25/2014 Senate Second Reading Passed - No Amendments
04/23/2014 Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole
04/17/2014 Senate Committee on Health & Human Services Refer Unamended to Appropriations
04/08/2014 Introduced In Senate - Assigned to Health & Human Services
04/07/2014 House Third Reading Passed - No Amendments
04/04/2014 House Second Reading Special Order - Passed with Amendments - Committee, Floor
04/04/2014 House Committee on Appropriations Refer Amended to House Committee of the Whole
02/20/2014 House Committee on Health, Insurance, & Environment Refer Amended to Appropriations
01/30/2014 Introduced In House - Assigned to Health, Insurance, & Environment