A PBM oversight bill and an audit reform bill backed by the New Mexico Pharmacy Business Council were signed April 4 by Gov. Susana Martinez and will take effect July 1. Both bills were initially drafted by NMPBC.
The PBM reform bill -- SB 415 by Sen. Bill O'Neill of Albuquerque -- passed the House on a 61-2 vote on March 16, the last day of the session. The audit reform bill -- SB 394 by Sen. Clemente Sanchez of Cuber Io -- passed the House a day earlier on a 61-0 vote.
Committee substitute bills for SB 415 by Sen. Bill O'Neill of Albuquerque and were both approved by the committee on Feb. 15 with a "do-pass" recommendation.
NMPBC Board Chair Ashley Seyfarth of Bloomfield, former chair Danny Cross of Carlsbad, and Dale Tinker, executive director of the New Mexico Pharmacists Association, all testified in favor of the bills in both the House and Senate. Both bills passed despite major opposition by PBMs and health plans.
SB 415 would increase transparency into PBM operations and oversight of PBMs by the Office of the Superinten-dent of Insurance. OSI has been instrumental in working with NMPBC and the New Mexico Pharmacists Association on the bill's provisions.
SB 415 would amend the Pharmacy Benefits Manager Act to make far-reaching changes in how PBMs operate in New Mexico:
SB 394 adds PBMs and their subcontractors to the list of entities that will perform audits, and specifies conditions and limits to audit procedures. The bill makes significant changes in allowed audit procedures:
Sen. Bill O'Neill
Sen. Clemente Sanchez