Gov. Stitt vetoes pharmacy benefits management bill
OKLAHOMA CITY (KFOR) - Governor Kevin Stitt vetoed a bill on Monday that would summarize the terms "covered entity" and "pharmacy benefits management".
A pharmacy benefits manager, or PBM, offers a service to covered entities to make it easier to change prescription drug benefits for covered individuals.
Officials say Senate Bill 1390 would make definitional changes to those terms.
"They might seem insignificant, but these definitional changes would transform many businesses—including employers with self-funded health benefit plans and mail-order pharmacy programs—into PBM. This will drive up operating costs that will be passed on to employees and consumers alike." said Gov. Stitt.
According to the Oklahoma State Legislature, the bill would also change jurisdiction and responsibilities of the Attorney General's Office when requesting and obtaining detailed
data.
"In addition, I have grave concerns about the fact this bill would grant yet another state agency unfettered access to detailed data, including protected health information, held by private Oklahoma businesses." Stitt added.
He says he'll consider signing the bill if there was more "concrete guidance regarding safeguards for the handling of protected health information."
To learn more about SB 1390, visit this link.