Bill Would Require Transparency and Disclosure From PBMs

Pharmacy benefit managers, the subject of criticism around the country that they don't always produce the cost savings they promise, would have to follow strict reporting and contractual requirements under a bill introduced in the Michigan Legislature. House Bill 6435, sponsored by Reps. Edward Canfield and Hank Vaupel, both Republicans, was introduced last week and has been assigned to the House Health Policy Committee. If passed, it would require PBMs to: Register with the state Department of Insurance and Financial Services, or face a $7,500 fine.  File annual reports wit...