Senate takes a crack at regulating Pharmacy Benefit Managers
The Wyoming Senate is trying to determine if a piece of legislation can solve a growing problem in the State. Senate File 36 is attempting to regulate Pharmacy Benefit Managers (PBM's) that manage prescription drug benefits on behalf of insurers.
Independent pharmacists in the state have told legislators that they are not properly being reimbursed for drug costs. They also claim the PBM’s try to sell drugs online to some of their clients. Sheridan Sen. Dave Kinskey said it’s an important issue.
“If we don’t rein these folks in with just a moderate level of accountability, they will close every local pharmacy in Wyoming,” said Kinskey.
The bill is trying to force PBM’s to be more transparent and address reimbursement disparities. Senate Health and Labor Chairman Fred Baldwin said the committee has been working on the issue for a while and it’s difficult to solve. The bill will be debated two more times.