HB 351, sponsored by Rep. David Santiago (R), was signed by Gov. Rick Scott (R) on March 23. Effective Sunday, July 1, contracts with a PBM shall prohibit the limitation of a pharmacy’s or pharmacist’s ability to substitute a less expensive, generically equivalent drug or to disclose whether a subscriber’s cost-sharing obligation exceeds the retail price for a covered prescription drug and availability of a more affordable alternative drug. Additionally, effective Tuesday, January 1, 2019, PBMs are required to register with the Office of Insurance Regulation and pay a registration fee and a renewal fee every two years from the date of initial certification, both of which shall not exceed $500 and are non-refundable. The Office must issue a registration certificate upon receipt of a completed registration form and adopt rules.
For more information, contact NACDS’ Leigh Knotts at 803-243-7207.