Massachusetts H1324 regulates pharmacy benefits managers to ensure fair prescription drug pricing.

Massachusetts H1324 introduces regulations for pharmacy benefits managers (PBMs) to ensure fair prescription drug pricing. The bill mandates that PBMs obtain a license from the commissioner, who can charge a fee for this. PBMs must list drugs on the maximum allowable cost (MAC) list only if there are at least two therapeutically equivalent, multiple-source drugs available. The commissioner can suspend or revoke licenses for noncompliance or unfair practices. PBMs must update MAC pricing weekly and provide a process for providers to access the MAC list.

Massachusetts H1324 regulates pharmacy benefits managers to ensure fair prescription drug pricing.

Massachusetts H1324 introduces regulations for pharmacy benefits managers (PBMs) to ensure fair prescription drug pricing. The bill mandates that PBMs obtain a license from the commissioner, who can charge a fee for this. PBMs must list drugs on the maximum allowable cost (MAC) list only if there are at least two therapeutically equivalent, multiple-source drugs available. The commissioner can suspend or revoke licenses for noncompliance or unfair practices. PBMs must update MAC pricing weekly and provide a process for providers to access the MAC list.