Signed by Governor Jared Polis

Vote Smart's Synopsis:

Vote to concur with senate amendments and pass a bill that prohibits pharmacies from charging retroactive fees on already filled medical prescriptions.

Highlights:

• Prohibits pharmacy benefit managers from reimbursing a pharmacy less than the amount that they reimburse any affiliates for the same services (Sec 1). 

• Specifies that pharmacy benefit managers are not prohibited from reimbursing an affiliate for satisfying a performance-based contract (Sec 1). 

• Requires pharmacy benefit management firms from reducing the payment on a claim after the point of sale after receiving a claim as a part of a contract between a pharmacy or pharmacy services organization (Sec 1).

• Requires carriers that have contracts going into effect on or after January 1st, 2021 with a pharmacy benefit management firm to manage or administer prescription drug benefits to amend their contracts to reflect these changes (Sec 1).

• Specifies that this act is effective on August 5th, 2020 unless a petition is filed against the act (Sec 2).

Full Bill Text

Vote Smart's Synopsis:

Vote to amend and pass a bill that prohibits pharmacies from charging retroactive fees on already filled medical prescriptions.

Highlights:

• Prohibits pharmacy benefit managers from reimbursing a pharmacy less than the amount that they reimburse any affiliates for the same services (Sec 1). 

• Specifies that pharmacy benefit managers are not prohibited from reimbursing an affiliate for satisfying a performance-based contract (Sec 1). 

• Requires pharmacy benefit management firms from reducing the payment on a claim after the point of sale after receiving a claim as a part of a contract between a pharmacy or pharmacy services organization (Sec 1).

• Requires carriers that have contracts going into effect on or after January 1st, 2021 with a pharmacy benefit management firm to manage or administer prescription drug benefits to amend their contracts to reflect these changes (Sec 1).

• Specifies that this act is effective on August 5th, 2020 unless a petition is filed against the act (Sec 2).

Full Bill Text