New Mexico legislation · 2025 Regular Session
New Mexico SB503: Prohibit Certain Pharmacy Benefits Mgr. Acts
Status: Introduced, February 20, 2025
What the bill says
From the enrolled text:
SB0503 SENATE BILL 503 57th legislature - STATE OF NEW MEXICO - first session, 2025 INTRODUCED BY Larry R. Scott RELATING TO PHARMACIES; PROHIBITING CERTAIN PHARMACY BENEFITS MANAGER PRACTICES. SECTION 1. Section 59A-61-2 NMSA 1978 (being Laws 2014, Chapter 14, Section 2, as amended) is amended to read: "59A-61-2. DEFINITIONS.--As used in the Pharmacy Benefits Manager Regulation Act: A. "maximum allowable cost" means the maximum amount that a pharmacy benefits manager will reimburse a pharmacy for the cost of a generic drug; B. "maximum allowable cost list" means a searchable, electronic and internet-based listing of drugs used by a pharmacy benefits manager setting the maximum allowable cost on which reimbursement to a pharmacy or pharmacist is made; C. "obsolete" means a product that is listed in national drug pricing compendia but is no longer available to be dispensed based on the expiration date of the last lot manufactured; D. "patient steering" means: (1) a pharmacy benefits manager directing patients to use a preferred pharmacy through mandatory mail order requirements; (2) a pharmacy benefits manager requiring a patient to use a restricted network of pharmacies that only consists of pharmacies approved by the pharmacy benefits manager; or (3) the use of copay differentials for pharmacies contracted with the pharmacy benefits manager and pharmacies that are not contracted with the pharmacy benefits …
Sponsors
- Larry R. Scott (R, SD-042) · primary sponsor
Common questions
- What is SB503?
- SB503 is a bill in the New Mexico Legislature (2025 Regular Session): Prohibit Certain Pharmacy Benefits Mgr. Acts.
- What is the status of SB503?
- Introduced as of February 20, 2025.
- Who sponsored SB503?
- Larry R. Scott (R, SD-042).
- Where is the official record for SB503?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=503&year=25
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.