On May 29, 2025, OKL LEG reported governor veto was overridden, SB 773 enacted.
On May 6, OKL LEG passed bill related to pharmacy benefit managers.
OKL LEG passed bill SB 773 introducing new restrictions on pharmacy benefit managers (PBMs) to ensure compliance with Patient's right to pharmacy choice act.
Amended Oklahoma statutes, OKL INS 36-6960, 36-6962, 36-6965, and 36-6966.1.
Legislative Provisions
Pharmacy benefits manager (PBM) refers to licensed business to perform PBM service.
Removed administration of management of pharmacy discount cards or programs.
Specified PBM cannot fail to make payment due to pharmacy, pharmacist for covered services properly rendered if PBM terminates contract with plan sponsor or insurer.
Bill provided that State law does not prohibit the Attorney General (AG) from obtaining any information or documentation pertaining to prescription drug transactions.
Attorney General may request a court reporter without a request from a PBM, costs covered by Office of the Attorney General unless it wins litigation after the final order.
Provided any monetary damages, administrative fines, courts costs owed by PBM will be placed in account with Attorney General's Office within 30 days of issuance of order.
If PBM prevails on every issue, AG refund monies related to appeal, paid within 60d.
Violation if PBM fails to pay monies owed withing 30 days of the issuance of final order.
PBM will be assessed a fine of $10k per calendar day they do not comply; a PBM that fails to comply for more than 6 months will have license suspended until they comply.
Legislative History
On Feb. 3, 2025, bill introduced into Senate; on Mar. 25, 2025, bill passed Senate.
On Mar. 26, 2025, bill introduced into House; on May 5, 2025, bill passed the House.
On May 6, 2025, bill sent to the governor; waiting for the governor to review and sign.
Effectiveness
If enacted, act becomes effective Nov. 1, 2025.
May 10, 2025 OKL LEG Governor Veto
On May 10, 2025, OKL LEG reported governor vetoed bill SB 773 on PBM restrictions.
May 2025 OKL LEG Veto Override
On May 29, 2025, OKL LEG reported governor veto was overridden, SB 773 enacted.
