Oklahoma SB1447: Oklahoma Employees Insurance Plan; prohibiting certain contracts from being awarded; requiring certain scoring; requiring certain certifications. Effective date.

What the bill says

An Act relating to the Oklahoma Employees Insurance Plan; defining terms; requiring certain provisions to be included in certain contract; prohibiting pharmacy benefits manager (PBM) from changing drug placement on a formulary without certain written authorization; prohibiting PBM from prohibiting certain guarantees of set pricing; prohibiting PBM from including certain plan designs without certain impact analysis and certain written approval of certain provisions by state plan; prohibiting PBM from establishing certain less favorable network terms…

From the enrolled text, April 28, 2026:

An Act relating to the Oklahoma Employees Insurance Plan; defining terms; requiring certain provisions to be included in certain contract; prohibiting pharmacy benefits manager (PBM) from changing drug placement on a formulary without certain written authorization; prohibiting PBM from prohibiting certain guarantees of set pricing; prohibiting PBM from including certain plan designs without certain impact analysis and certain written approval of certain provisions by state plan; prohibiting PBM from establishing certain less favorable network terms; prohibiting establishment of certain gag clauses by certain PBM; prohibiting establishment of certain contract provisions that create certain conditions that exclude certain pharmacies without certain justification; requiring PBM to disclose certain affiliates or subcontractors prior to awarding of certain contract; requiring certain rebates to be passed through to state plan; construing provisions; establishing certain determination of certain guarantees; requiring PBM to maintain certain System and Organization Controls (SOC) Type 2 certification; requiring PBM to provide certain written impact analysis prior to approval of changes to certain contract provisions; requiring certain impact analysis to include certain provisions; requiring PBM to submit certain report including certain claimlevel reporting data; requiring certain report to include certain provisions; allowing certain contract proposal to be scored based on certain provisions; providing for codification; and providing an effective date. SUBJECT: Oklahoma Employees Insurance Plan SECTION 1. NEW LAW A new section …