H.F. 4755 Summary

• Creates new reporting requirements for 340B covered entities (drug discount program participants) to register with the commissioner beginning April 1, 2024, including entity name, ID, address, and type.

• Requires annual reporting by April 1 of aggregated acquisition costs, payment amounts received, pricing units dispensed, and payments to contract pharmacies and other entities managing the 340B program, broken down by payer type (commercial insurance, medical assistance, MinnesotaCare, Medicare).

• Mandates hospitals report additional data at the national drug code level for the 50 most frequently dispensed drugs under the 340B program.

• Establishes enforcement with fines up to $500 per day for late or non-compliant reports, subject to contested case review, and allows commissioner to grant extensions or exemptions for good cause.

• Requires the commissioner to submit aggregated data reports to legislative health care finance and policy committees by November 15 each year, including net revenue calculations for each entity, while classifying submitted data as nonpublic.