A coalition of Pennsylvania community pharmacists is celebrating the passage of House Bill 1993, a reform package aimed at regulating pharmacy benefit managers (PBMs). The bill now awaits Governor Josh Shapiro’s signature. In his February budget address, Shapiro called for PBM reform.
Protecting Local Pharmacies
PBMs are intended to negotiate lower drug prices with pharmaceutical companies. However, instead of passing these savings on to patients, health insurers, or community pharmacies, PBMs often pocket the money. This year alone, over 140 pharmacies in Pennsylvania have closed.
House Bill 1993 introduces several measures to protect patients and increase government oversight. These measures include:
- Limits on PBM patient steering: Ensuring patients can use their local pharmacies without facing financial penalties from PBMs.
- Comprehensive study of PBM practices: The Pennsylvania Insurance Department will oversee this study to understand and regulate PBM business operations.
- Specialty drug definitions: Protecting access to important medications at local pharmacies.
