Illinois pharmacies support bill for oversight of pharmacy benefit managers
Illinois pharmacies are supporting House Bill 465, which would establish new state oversight of pharmacy benefit managers if signed into law by Gov. J.B. Pritzker.
Garth Reynolds, executive director at Illinois Pharmacists Association, said the bill establishes an oversight enforcement mechanism for pharmacy benefit managers in Illinois for the first time.
“Pharmacy benefit managers are subcontractors of health insurance, mainly the medical side,” Reynolds said. “Being the subcontractors, they have not really fit into the current insurance code the way it is in Illinois.”
Reynolds said pharmacy benefit managers have been able to establish reimbursement rates, contract terms and formulate decisions with no oversight or regulation.
Read more: https://www.thecentersquare.com/illinois/illinois-pharmacies-support-bill-for-oversight-of-pharmacy-benefit-managers/article_9a88b2c8-99e1-11e9-817d-5f30dcfdca62.html