Minnesota HF2851 modifies reverse auction procurement for SEGIP pharmacy benefit contracts, prohibits spread pricing by pharmacy benefit managers.

Minnesota HF2851 amends the reverse auction procurement requirement for SEGIP pharmacy benefit contracts, prohibiting the use of spread pricing by pharmacy benefit managers. The bill increases license application fees for pharmacy benefit managers and imposes fiduciary duties on them. It also appropriates funds for the commissioner of commerce to enhance investigation and enforcement of pharmacy benefit managers. Key provisions include prohibiting spread pricing, requiring transparency reports, and establishing fiduciary duties for pharmacy benefit managers.

Minnesota HF2851 modifies reverse auction procurement for SEGIP pharmacy benefit contracts, prohibits spread pricing by pharmacy benefit managers.

Minnesota HF2851 amends the reverse auction procurement requirement for SEGIP pharmacy benefit contracts, prohibiting the use of spread pricing by pharmacy benefit managers. The bill increases license application fees for pharmacy benefit managers and imposes fiduciary duties on them. It also appropriates funds for the commissioner of commerce to enhance investigation and enforcement of pharmacy benefit managers. Key provisions include prohibiting spread pricing, requiring transparency reports, and establishing fiduciary duties for pharmacy benefit managers.