Oklahoma House Bill 1674 (2021)

Oklahoma House Bill 1674 (HB1674), passed in 2021, pertains to the regulation of pharmacy benefit managers (PBMs) within the state of Oklahoma. Specifically, the bill aims to increase transparency and accountability in the PBM industry. Key provisions of HB1674 typically address areas such as:

• Disclosure Requirements: Mandating PBMs to disclose pricing information, rebates received from drug manufacturers, and other financial arrangements to pharmacies and plan sponsors (employers or insurance companies offering prescription drug benefits).

• Audit Rights: Granting plan sponsors the right to audit PBM records to ensure accurate claims processing and pricing.

• Anti-Discrimination Measures: Preventing PBMs from discriminating against pharmacies based on ownership structure or affiliation. This may include protections against steering patients to specific pharmacies or imposing unfair contract terms.

• Maximum Allowable Cost (MAC) Lists: Regulating the use of MAC lists, which are lists of the maximum prices that PBMs will reimburse pharmacies for generic drugs. HB1674 likely includes provisions requiring PBMs to update MAC lists regularly and establish a process for pharmacies to appeal MAC prices that are deemed too low.

• Fiduciary Duty: In some instances, HB1674 may establish a fiduciary duty of PBMs to their clients (plan sponsors), requiring them to act in the best interests of the plan.

The specific provisions and legal language of HB1674 should be consulted for complete and accurate details. The intent of the bill is generally to lower prescription drug costs for consumers and improve the financial sustainability of independent pharmacies in Oklahoma by addressing perceived unfair practices by PBMs. The effectiveness and impact of HB1674 are subjects of ongoing debate and monitoring within the healthcare industry.