Minnesota 2023-2024 Regular Session

Minnesota Senate Bill SF2889

Introduced
3/14/23  

Caption

Pharmacy benefit managers and health carriers requirement to use prescription drug rebates and other compensation to benefit covered persons

Impact

The implications of SF2889 are significant as it addresses common frustrations faced by patients regarding drug pricing. By ensuring that negotiated rebates and other forms of compensation directly benefit consumers at the time they pick up their prescriptions, the bill has the potential to lower the financial burden associated with necessary medications. This would be a move towards making healthcare more affordable, possibly improving health outcomes by enabling better adherence to prescribed therapies due to reduced costs.

Summary

SF2889 aims to enhance transparency and accessibility in the pharmaceutical sector by requiring pharmacy benefit managers (PBMs) and health carriers to pass on any compensation received from drug manufacturers directly to the covered persons at the point of sale. This measure is designed to reduce the out-of-pocket expenses for patients when purchasing prescription medications. The bill mandates that this compensation must be utilized to lower costs immediately, ensuring that patients benefit from any financial incentives provided by pharmaceutical companies.

Contention

Despite broad support for the goals of the bill, debates around SF2889 have highlighted concerns regarding its implementation. Some stakeholders argue that while the intent is good, the logistics of enforcing such a requirement could be complex. Questions remain about how different health plans and pharmacy benefit managers will report these compensations, and whether they will have the infrastructure to handle the changes without causing delays or confusion for consumers at pharmacies. Additionally, there may be worries about the potential impact on the overall drug pricing structure and whether pharmaceutical companies would react by adjusting their pricing strategies in response.

Companion Bills

MN HF1711

Similar To Pharmacy benefit managers and health carriers required to use prescription drug rebates and other compensation to benefit covered persons, and report required.

Previously Filed As

MN HF1711

Pharmacy benefit managers and health carriers required to use prescription drug rebates and other compensation to benefit covered persons, and report required.

MN SF1877

Pharmacy benefit managers and health carriers usage of prescription drug rebates and other compensation requirement to benefit covered persons provision

MN HF1075

Pharmacy benefit managers and health carriers required to use prescription drug rebates and other compensation to benefit covered persons, and report required.

MN SF482

Requirements establishment for pharmacy benefit managers and health carriers related to clinician-administered drugs

MN HF544

Pharmacy benefit manager and health carrier requirements established related to clinician-administered drugs.

MN HF294

Manufacturers required to report and maintain prescription drug prices, filing of health plan prescription drug formularies required, health care coverage provisions modified, prescription benefit tool requirements established, and prescription drug benefit transparency and disclosure required.

MN SF1876

Pharmacy benefit managers and health carriers inclusion of lower-cost drugs in formularies requirement provision and lowest out-of-pocket-cost drug to patient formulary tiering preference provision

MN SB01366

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

MN AB173

Regulation of pharmacy benefit managers, fiduciary and disclosure requirements on pharmacy benefit managers, and application of prescription drug payments to health insurance cost-sharing requirements. (FE)

MN SB203

Regulation of pharmacy benefit managers, fiduciary and disclosure requirements on pharmacy benefit managers, and application of prescription drug payments to health insurance cost-sharing requirements. (FE)

Similar Bills

No similar bills found.