H 353 – VermontStatus: Enacted
Year Introduced: 2021
An act relating to pharmacy benefit management. This bill proposes to require pharmacy benefit managers to obtain licensure from, rather than register with, the Department of Financial Regulation. It would establish a detailed regulatory framework for regulating pharmacy benefit managers and would prohibit or restrict a number of pharmacy benefit management activities. The bill would recodify most of the existing statutory provisions relating to pharmacy benefit managers in one chapter, with some revisions. It would allow health insurance plan beneficiaries to choose their own pharmacies, limit direct solicitation by pharmacies and pharmacy benefit managers, and provide pharmacies with additional rights during an audit. The bill would also require
the Agency of Human Services to select a wholesale drug distributor through a competitive bidding process to be the sole source to distribute prescription drugs to pharmacies for dispensing to Medicaid beneficiaries.
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