Legislation


SB 734 – Oklahoma

Status: In Process
Year Introduced: 2021
Link: http://www.oklegislature.gov/BillInfo.aspx?Bill=SB734&Session=2100

SB 734 requires the Director of the Office of Management and Enterprise Services (OMES) to transmit to the Insurance Commissioner a list of the 250 most costly prescription drugs for the previous calendar year based upon net price multiplied by utilization. The Commissioner is required to publish this list of drugs and the reference rate associated with each drug on the Commission’s website. At no time shall a state entity, health plan, or participating Employee Retirement Income Security Act (ERISA) plan purchase a drug from this list above the reference rate. The reference rate shall be calculated by the Commissioner by comparing the wholesale acquisition rate to various Canadian Ministries of Health. Savings resulting from the enforcement of this act shall be used to reduce costs to consumers.


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