Compromise language brings together pharmacy benefit managers and local pharmacies
Oklahoma City (May 13, 2014) – Governor Mary Fallin signed House Bill 2100 into law Monday, helping Oklahomans see savings in their pharmaceutical costs while still being able to deal with their local pharmacies. The bill by Representative David Derby and Senator Rob Standridge contains compromise language agreed to by pharmacy benefit managers and the Oklahoma Pharmacists Association (OPhA).
“The OPhA and the pharmacy benefit managers that negotiated this bill should be commended for working together,” said State Chamber Vice President of Policy Development and Government Affairs Jonathan Buxton. “Through this compromise, patients will see enhanced cost savings provided by pharmacy benefit managers while still having access to local pharmacies.”
Under the new law, pharmacy benefit managers will be licensed by the Oklahoma Insurance Department and will adopt standard appeals and contracting procedures for pharmacies. The State Chamber would like to thank Governor Fallin for signing the measure into law and Representative Derby and Senator Standridge for their work in getting overwhelming support in the legislature for the compromise.