Connecticut House Bill HB05343

Connecticut 2019 Regular Session

• Introduced: 1/15/19
• Refer: 1/15/19

Caption

An Act Redefining "third-party Administrator" To Include Pharmacy Benefits Managers.

Impact

The passing of HB 05343 would have significant implications for the regulation of pharmacy benefits within the healthcare system. This amendment to the definition could lead to increased scrutiny over PBMs' operations, including their pricing strategies and the management of drug formularies. Health insurance providers may need to adjust their contracts with PBMs to ensure compliance with the new regulations, potentially impacting the costs and availability of certain medications for patients.

Summary

House Bill 05343 proposes a redefinition of the term 'third-party administrator' under state laws to explicitly include pharmacy benefits managers (PBMs). This change comes as part of an effort to clarify the roles and responsibilities of various entities involved in the administration of healthcare benefits, particularly as they pertain to pharmacy services. By including PBMs in this definition, the bill aims to enhance accountability and oversight within the healthcare benefits administration framework.

Contention

While the bill primarily seeks to clarify regulatory definitions, there may be contention surrounding the potential for increased regulations on pharmacy benefits managers. Supporters of the bill argue that clearer definitions will help safeguard patient interests and ensure fair practices among PBMs. Conversely, some industry stakeholders may perceive this move as an overreach that could impose burdensome regulations on PBMs, leading to increased costs or disruptions in the provision of pharmacy benefits.