FRANKFORT, KY. (April 15, 2024) – Sen. Max Wise, R- Campbellsville, saw the passage of Senate Bill 188, legislation aimed at rectifying disparities between commercial pharmacy benefit managers (PBMs) and independent pharmacists.
The bill, signed into law and set to take effect on Jan. 1, 2025, addresses critical issues impacting local pharmacies and patient care. The recent passage of SB 188 marks a significant victory for independent pharmacists across Kentucky.
SB 188 tackles commercial PBM reform, introducing measures to ensure fair compensation for independent pharmacies and enhance patient choice and accessibility. The bill establishes a minimum dispensing fee for independent pharmacies, addressing the long-standing issue of inadequate reimbursement rates. Additionally, SB 188 prohibits PBMs from steering patients toward PBM-owned pharmacies, thereby promoting fair competition and patient autonomy.
Wise emphasized the significance of SB 188 in protecting patients and community pharmacies from unfair business practices.
"This legislation will protect patients and community pharmacies against predatory PBM practices in the commercial market," said Wise, acknowledging the bill's crucial role in fostering a more equitable health care system.
The comprehensive nature of SB 188 positions Kentucky as a leader in commercial PBM reform. Similar initiatives have been enacted in only a handful of states, including West Virginia, Tennessee, and Arkansas. SB 188 sets a precedent for legislative action on a national scale.
While SB 188 marks a significant milestone, Wise and advocates recognize the need for continued engagement at the federal level to address broader issues within the pharmaceutical industry.
With the passage of SB 188, Kentucky reaffirms its commitment to supporting independent pharmacies, safeguarding patient interests, and promoting a more equitable health care system.
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Sen. Max Wise, R-Campbellsville, represents the 16th Senate District, including Adair, Allen, Metcalfe, Monroe, and Taylor Counties and eastern Warren County. He is Senate Economic Development, Tourism and Labor Committee chair. Wise also serves as a Senate Education Committee member and is a member of the newly formed Families and Children Committee and Health Services Committee. Additionally, he is an Education Assessment and Accountability Review Subcommittee member.
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