Hearing Set for PBM Rules to Stop Spread Pricing, Rebates

The Maine Superintendent of Insurance will hold a public hearing Aug. 20 on proposed rules that would prohibit pharmacy benefits managers from engaging in spread pricing or from accepting rebates from pharmaceutical companies. The rules were drafted to implement L.D. 1504, “An Act To Protect Consumers from Unfair Practices Related to Pharmacy Benefits Management,” approved by the Maine Legislature in 2019, the Bureau of Insurance said in a bulletin. The law outlines network adequacy and fiduciary duties that PBMs owe insurance carriers they contract with. The rules would require ...