Oklahoma Senate Bill SB1390

Oklahoma 2024 Regular Session

• Introduced: 2/5/24
• Refer: 2/6/24
• Report Pass: 2/20/24
• Engrossed: 3/4/24
• Refer: 3/25/24
• Report Pass: 3/26/24
• Enrolled: 4/2/24
• Vetoed: 4/8/24

Caption

Pharmacy benefits managers; modifying jurisdiction and responsibilities of the Attorney General's Office; establishing requirements and penalties. Emergency.

Impact

The legislation is poised to significantly impact state laws concerning pharmacy regulations. It introduces stricter compliance measures for PBMs, allowing the Attorney General to oversee and investigate their activities more effectively. By mandating public disclosure of specific practices and requiring regular reporting regarding rebates and payments, the bill aims to foster a more transparent business environment within the pharmacy sector. This shift is expected to mitigate unfair practices that may negatively affect patients and pharmacies alike.

Summary

Senate Bill 1390 aims to modify the regulations governing pharmacy benefits managers (PBMs) in Oklahoma. The bill enhances the jurisdiction and responsibilities of the Attorney General's Office in enforcing compliance with regulations set forth in the Patient’s Right to Pharmacy Choice Act. Specific terms are defined, including what constitutes a PBM and the services they provide. Notably, the bill prohibits certain unfair practices by PBMs, promoting transparency and accountability in healthcare provision related to pharmacy services.

Sentiment

The sentiment surrounding SB 1390 appears largely positive, with strong support from various stakeholders advocating for better patient rights and pharmacy choices. Proponents argue that the bill will help protect consumers from unfair pricing and practices employed by PBMs. However, there are voices of concern regarding whether the increased regulatory burden may impact the operational flexibility of PBMs, which could lead to unintended consequences in the delivery of healthcare services.

Contention

Some contention exists around the extent of authority granted to the Attorney General, particularly regarding the enforcement mechanisms and penalties for non-compliance. Discussions have highlighted fears that excessive regulation might stifle competition among pharmacy providers. Critics emphasize the need for a balanced approach that protects consumers while ensuring that PBMs can operate efficiently without undue burdens.