Creates provisions relating to 340B drugs
If enacted, HB 785 will significantly affect the operations of pharmacy benefits managers and health carriers by enforcing strict non-discrimination clauses regarding covered entities. The legislation mandates that these entities must be treated equitably, thus potentially enhancing the financial viability of pharmacies that dispense 340B drugs. This could lead to increased availability of lower-cost medications for underserved populations, which is the primary intention behind the 340B drug-pricing initiative. The bill also contains penalty provisions for non-compliance, which ensure accountability among health carriers and pharmacy benefits managers.
House Bill 785 aims to establish provisions regarding the treatment of 340B drugs within the state. This legislation seeks to ensure that health carriers and pharmacy benefits managers do not discriminate against covered entities participating in the 340B drug-pricing program. The bill defines critical terms, such as '340B drug' and 'covered entity,' and sets forth specific requirements for health carriers and pharmacy benefits managers, preventing them from imposing unequal terms or conditions on these entities. Through this, the bill aims to bolster the accessibility and affordability of medications provided through the 340B program.
Discussions surrounding HB 785 suggest that while many stakeholders support the bill's intent to protect covered entities and streamline drug pricing processes, there is concern regarding the implications of increased regulations on health carriers and pharmacy benefits managers. Opponents may argue that such regulations could lead to unintended consequences that complicate operations or increase costs elsewhere in the healthcare system. The exact impacts on cost, service delivery, and the potential for litigation regarding compliance are points that warrant further assessment and debate among lawmakers.