Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
WUSF Logo

X
Health News Florida

DeSantis signs bill to increase oversight of pharmacy benefit managers

pharmacy
Small pharmacies have long complained about pharmacy benefit managers, which represent health insurers in negotiations with drug companies and pharmacies.

The bill, in part, will give the Office of Insurance Regulation more authority over pharmacy benefit managers.

Gov. Ron DeSantis on Tuesday signed a bill (HB 357) that will lead to increased oversight of pharmacy benefit managers, which serve as sort of middlemen between health insurers and pharmacies.

The bill, in part, will give the Office of Insurance Regulation more authority over pharmacy benefit managers.

Small pharmacies have long complained about pharmacy benefit managers, which represent health insurers in negotiations with drug companies and pharmacies.

Michael Jackson, executive vice president and CEO of the Florida Pharmacy Association, praised the signing in a prepared statement. “Long overdue, PBMs (pharmacy benefit managers) will now be subject to existing regulation under the Office of Insurance Regulation, ensuring they comply with strict requirements intended to protect community and independent pharmacies, patients in need and hard-working taxpayers,” said Jackson, who was part of a coalition known as EMPOWER Patients that backed the measure.

The bill passed during the legislative session that ended in March.