Oklahoma SB1447 prohibits contracts with PBMs that have specific corporate structures and requires certain certifications for compliance.

Oklahoma SB1447 amends the Oklahoma Employees Insurance Plan by prohibiting contracts with pharmacy benefits managers (PBMs) that are part of a corporate structure including a health insurance company, retail pharmacy chain, specialty pharmacy business, mail-order pharmacy business, or pharmaceutical manufacturer. The bill mandates that any contracted PBM must certify compliance with the Oklahoma Health Information Exchange Act and SOC 2 Type 2 certification. This act becomes effective November 1, 2026.

Oklahoma SB1447 prohibits contracts with PBMs that have specific corporate structures and requires certain certifications for compliance.

Oklahoma SB1447 amends the Oklahoma Employees Insurance Plan by prohibiting contracts with pharmacy benefits managers (PBMs) that are part of a corporate structure including a health insurance company, retail pharmacy chain, specialty pharmacy business, mail-order pharmacy business, or pharmaceutical manufacturer. The bill mandates that any contracted PBM must certify compliance with the Oklahoma Health Information Exchange Act and SOC 2 Type 2 certification. This act becomes effective November 1, 2026.