HB 26-1056

HB 26-1056, known as the "Prescription Drug Optimized Sourcing Transparency and Integrity Act," requires pharmacy benefit managers (PBMs) and health-care consultants to provide accurate information about prescription drug costs to self-insured employers. This means that if an employer asks for it in writing, PBMs must share specific cost details related to each prescription drug covered under their plan. The bill also supports the use of pharmacy stewardship programs as a way to control costs, ensuring these programs comply with federal law and this new state act. Since the bill has been signed into law, self-insured employers now have more transparency and protection when it comes to managing prescription drug benefits for their employees.

Official Summary

The bill creates the "Prescription Drug Optimized Sourcing Transparency and Integrity Act" to prohibit a pharmacy benefit manager (PBM) or a health-care consultant from knowingly making or disseminating false or misleading statements or claims to a self-insured employer or policyholder about the legality or safety of a lawful prescription drug optimized sourcing program established by a pharmacy stewardship program.Upon written request by a self-insured employer, a PBM or health-care consultant is required to provide certain cost information for each prescription drug dispensed under the health benefit plan.The prohibition and information-sharing provisions of the bill do not restrict or limit the rights of a self-insured employer to purchase prescription drugs through and contract for a lawful prescription drug optimized sourcing program. The bill also recognizes that a pharmacy stewardship program is an effective cost-containment tool and is authorized when implemented in compliance with federal law and with the bill.(Note: This summary applies to this bill as introduced.)

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