SB 2888 Summary

• Prohibits pharmacy benefit managers (PBMs) from charging patients copayments exceeding the amount reimbursed to the pharmacy for the claim, and requires pharmacies to retain the adjudicated cost.

• Establishes restrictions on PBM reimbursement practices for 340B drug pricing entities, including prohibitions on lower reimbursement rates, unequal fees or chargebacks, and requirements for modifiers identifying 340B claims.

• Authorizes the State Board of Pharmacy to coordinate audits of PBM appeals with all related evidence, with PBMs bearing examination costs.

• Prohibits PBM retaliation against pharmacies exercising rights under the chapter, including termination, increased audit frequency, or delayed payments, with limited exceptions for credible fraud allegations.

• Expands the definition of "pharmacy benefit manager" to include Pharmacy Services Administrative Organizations and pharmacy cash discount cards, and deletes references to "pharmacy benefit manager affiliates" throughout the statute.