MT HB740

Establishes minimum reimbursement for independent pharmacies at national average drug acquisition cost plus a $15 professional dispensing fee, adjusted annually for inflation

Prohibits pharmacy benefit managers and third-party payers from charging pharmacies various fees including claim submission fees, network enrollment fees, credentialing fees, and retroactive fees

Bans "effective rate contracting" that bases pharmacy reimbursement on aggregated claims rather than per-claim pricing, with violations subject to fines or license revocation

Requires pharmacy benefit managers to process credentialing applications within 45 days and ownership changes within 30 days, and to offer contract renewals every 3 years minimum

Prohibits PBMs from requiring patients to use mail-order pharmacies in areas without USPS delivery, and requires equal treatment of network pharmacies regardless of PBM affiliation; applies October 1, 2025 through June 30, 2029