Connecticut Senate Bill SB01366

Connecticut 2025 Regular Session

Caption

An Act Concerning Pharmacy Benefits Managers And Prescription Drug Rebate Reporting Requirements.

Impact

If enacted, SB01366 will amend existing statutes to prohibit certain provisions in contracts between PBMs and health carriers that may undermine this fiduciary duty. For instance, contracts can no longer penalize pharmacists for disclosing prescription prices or alternatives that could save consumers money. Additionally, PBMs will be restricted from complex pricing structures that involve indirect fees based on the wholesale costs of medications, aimed at increasing transparency and reducing consumer costs at the point of sale.

Summary

SB01366, titled 'An Act Concerning Pharmacy Benefits Managers And Prescription Drug Rebate Reporting Requirements,' aims to establish a set of obligations for pharmacy benefits managers (PBMs) towards health carriers and covered persons. The bill introduces a fiduciary duty for PBMs to ensure they act in the best interests of the involved parties. This includes providing notice of any conflicts of interest and adhering to principles of good faith and fair dealing in their dealings with pharmacies and consumers.

Contention

The bill has sparked discussions about the balance between regulation and market freedom for PBMs. Proponents argue that these measures will enhance consumer protection and ensure fair pricing practices in the pharmaceutical industry. However, opponents may view it as an undue infringement on the operational flexibility of PBMs, potentially increasing administrative burdens. Ensuring that PBMs comply with these new requirements may also demand additional oversight from the Insurance Commissioner, raising concerns about resource allocation for their enforcement.