Tennessee to rein in PBMs
By HME News Staff
Updated 9:06 AM CDT, Wed June 2, 2021
ALEXANDRIA, Va. – Tennessee Gov. Bill Lee has signed into law legislation to reform pharmacy benefit managers. Tennessee SB1617/HB1398 prohibits PBMs from reimbursing pharmacies below their acquisition costs; addresses PBM conflicts of interest by prohibiting patient steering practices through coercive co-pays and other means; and prohibits spread pricing in the commercial market, according to the National Community Pharmacists Association. “PBMs have exploded in size and in influence in recent years but have been permitted to operate with little regulation, to the detriment of patients and taxpayers,” says NCPA CEO B. Douglas Hoey, pharmacist, MBA. “With SB1617/HB1398, Tennessee is holding PBMs accountable. We’re grateful to Gov. Lee for signing this comprehensive reform legislation, and for the policymakers who fought for it to advance. It’s a great day for Tennessee patients and independent pharmacies.”
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