On May 12 and 13, the General Assembly procedurally moved SB 11 and HB 7192 through their respective committees. This legislation came out of the bi-cameral, bi-partisan Prescription Drug Taskforce that began last fall. Amongst the provisions, HB 7192 would provide that PBMs owe a fiduciary duty to health carriers; prohibit a PBM to charge a health plan a contracted price that differs from what the PBM pays the pharmacy for the services; expand the contents of the insurance commissioner’s annual report on health carrier rebates to include certain information on how rebates affected cost sharing; and require the insurance commissioner to require carriers to annually report on pricing offered to, and profit generated between, the carrier and any PBM or mail-order pharmacy. NACDS participated in the taskforce and supported both bills during the committee process. NACDS, with the Connecticut Association of Chain Pharmacies, participates with the Connecticut Patients Not PBMs coalition, made up of pharmaceutical companies, patient advocacy groups and pharmacy industry peers. The Connecticut legislative session ends firmly on June 4.
For more information, please contact NACDS’ Ben Pearlman at 617-515-2603.