House Votes to Concur on Senate Amendments to House Bill 229

COLUMBUS - State Representative Kellie Deeter (R-Norwalk) is pleased to announce that the Ohio House of Representatives today voted to concur on Senate amendments to House Bill 229, legislation to establish licensing requirements and improve transparency for pharmacy benefit managers (PBMs).

House Bill 229, championed by Deeter, will place PBMs in a new, dedicated chapter of Ohio's Insurance Code, ensuring regulatory oversight and standardizing definitions and reporting requirements. Under the bill, the Department of Insurance will be required to administer the licensing process for PBMs who want to operate in Ohio. Any entity seeking to provide PBM services in Ohio will be required to obtain a PBM license, and knowingly providing PBM services without a license will be a fourth-degree misdemeanor.

"Today, Ohio is taking a major step toward transparency in prescription drug pricing," said Deeter. "With the passage of House Bill 229, Pharmacy Benefit Managers operating in our state will be required to operate in the open, giving employers the information they need to make smarter, more informed decisions about their prescription benefit plans."

PBMs manage prescription drug benefits on behalf of insurers and employers and process claims related to pharmacy benefits.

House Bill 229 now awaits a signature from the Governor to become law.