Pharmacy Benefit Managers feel the pain as DeSantis signs new prescription drug regulations into law
May 3, 2023
By Brian Burgess | The Capitolist
On Wednesday, just hours after receiving the bill from state lawmakers, Florida Governor Ron DeSantis signed SB 1550 into law, placing new restrictions on pharmacy benefit managers (PBMs), often referred to as middlemen in the healthcare system.
The new law will increase transparency and accountability for PBM practices and drug prices in Florida, allowing consumers to make more informed decisions about their health. The PBM industry has claimed that they help to lower prescription costs through negotiating rebates and discounts, while independent pharmacies have argued that PBMs have too much leverage in the market.
The new legislation will give the Office of Insurance Regulation more authority over PBMs, limit the activities of PBMs with affiliated pharmacy businesses, and prevent PBMs from requiring patients to receive prescriptions by mail. The bill passed unanimously in both the Florida House and Senate.
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