Representative David Byrd; District 71 Capitol Hill Update

General Assembly passes PBM reform to support independent pharmacies - The General Assembly has passed a solution that will save Tennessee’s independent pharmacies, increasing competition and lowering the overall costs of prescription drugs and devices to consumers.

House Bill 2661 closes loopholes in existing law to address Pharmacy Benefit Manager (PBM) reimbursement rates for the dispensing of prescription drugs or devices. It requires a PBM to reimburse an independent pharmacy at a rate no less than the actual cost of a drug or device dispensed. The bill also establishes an appeals process...