ATAP Supports New Hampshire Bill to Increase PBM Transparency
On February 7, ATAP sent a letter to New Hampshire legislators expressing its support for HB 1529, which seeks to increase transparency for pharmacy benefit managers (PBMs) by requiring them to annually disclose the amount of rebates and discounts received from drug manufacturers. The bill is currently being considered by the House Commerce and Consumer Affairs Committee, following a public hearing on its provisions.
More specifically, HB 1529 would require insurance carriers and PBMs to annually disclose to the Insurance Commissioner the amount rebated from manufacturers for 25 prescription drugs as determined by the Commissioner. The bill further tasks the Commissioner with analyzing the findings based on the disclosed information including populations served, demographics of those receiving rebates, types of medication and diagnoses impacted, and the cost of medications with and without rebates.
In its letter to Committee members, ATAP explained the importance of increased transparency surrounding PBMs and their role within the delivery system, and applauded New Hampshire for taking steps to help shine a much needed light on PBMs and the rebate system. But while we acknowledge that HB 1529 is undoubtedly a step in the right direction, the letter nevertheless expressed ATAP’s concern that by failing to explicitly specify the type of rebate and payment information PBMs must report, the bill language does not go far enough to ensure PBMs provide the Commissioner with an accurate and truthful picture as to what is really going on in within the system. The letter thus encouraged Committee Members to considering amending the bill to include more specific language regarding the information PBMs must disclose.
That being said, however, ATAP recognizes that even in its current form, HB 1529 is an important first step and will go a long way in helping to understand the impact of rebates on patients, both in terms of cost and access. ATAP therefore strongly urges the Committee to support this legislation and vote to pass the bill during its executive session.
ATAP wishes to thank Representative Edward Butler (D-07) and his fellow cosponsors for recognizing the need for PBM transparency in New Hampshire. We will continue to actively monitor and support HB 1529 throughout the legislative process. Please continue to check the ATAP websites for updates on the status of this bill and other PBM reform efforts throughout the country. If you have additional questions or would like more information on this legislation or ATAP efforts in general, please do not hesitate to contact ATAP staff.