SB 498 – New Mexico

Status: Inactive / Dead
Year Introduced: 2023
Link: https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legType=B&legNo=498&year=23

Senate Bill 498 would amend the Pharmacy Benefits Manager Regulation Act to expand the maximum-allowable-cost process from generic pharmaceuticals to all pharmaceuticals and to increase the amount of information provided on the maximum-allowable-cost list. Additionally, the bill would require pharmacy benefits managers to set reimbursement rates no lower than a pharmacy is able to purchase the drug from their wholesaler. Finally, the bill would require pharmacy benefits managers to allow any pharmacy access to its preferred pharmacy network and prohibits a manager from restricting an individual’s choice in pharmacy.

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