Minnesota SF3063 modifies reverse auction procurement for SEGIP pharmacy benefit contracts, prohibits spread pricing, and increases license fees for.

Minnesota SF3063 amends the reverse auction procurement requirement for SEGIP pharmacy benefit contracts, prohibiting the use of spread pricing by pharmacy benefit managers. The bill increases pharmacy benefit manager license application fees and imposes fiduciary duties on these managers. It also appropriates funds for the Department of Commerce to enhance enforcement of pharmacy benefit managers. The bill mandates transparency reports from pharmacy benefit managers and requires them to provide reasons for appeal denials and identify alternative drug sources.

Minnesota SF3063 modifies reverse auction procurement for SEGIP pharmacy benefit contracts, prohibits spread pricing, and increases license fees for.

Minnesota SF3063 amends the reverse auction procurement requirement for SEGIP pharmacy benefit contracts, prohibiting the use of spread pricing by pharmacy benefit managers. The bill increases pharmacy benefit manager license application fees and imposes fiduciary duties on these managers. It also appropriates funds for the Department of Commerce to enhance enforcement of pharmacy benefit managers. The bill mandates transparency reports from pharmacy benefit managers and requires them to provide reasons for appeal denials and identify alternative drug sources.