Oklahoma SB1500: Pharmacy benefit managers; prohibiting certain payment from conditioned on certain provisions; prohibiting certain provider from bearing risks; requiring certain payments; establishing accounting requirements; authorizing Attorney General to levy fines. Effective date.

What the bill says

An Act relating to pharmacy benefits managers; amending 59 O.S. 2021, Section 357, as last amended by Section 2, Chapter 414, O.S.L. 2025 (59 O.S. Supp. 2025, Section 357), which relates to definitions; defining terms; modifying definitions; updating statutory references; updating statutory language; prohibiting certain payment from being conditioned on certain provisions; prohibiting certain provider from bearing certain risks; requiring certain payor to remit certain payment within certain time frame; requiring certain payor to provide providers with certain accounting…

From the enrolled text, April 30, 2026:

An Act relating to pharmacy benefits managers; amending 59 O.S. 2021, Section 357, as last amended by Section 2, Chapter 414, O.S.L. 2025 (59 O.S. Supp. 2025, Section 357), which relates to definitions; defining terms; modifying definitions; updating statutory references; updating statutory language; prohibiting certain payment from being conditioned on certain provisions; prohibiting certain provider from bearing certain risks; requiring certain payor to remit certain payment within certain time frame; requiring certain payor to provide providers with certain accounting; establishing certain requirements for certain accounting; prohibiting certain payor from certain actions; requiring certain payments made outside of certain time frame to accrue interest; authorizing the Attorney General to levy certain fines; establishing certain contracts as void; allowing the Attorney General to promulgate rules; making certain claims applicable to certain provisions; providing for codification; and providing an effective date. SUBJECT: Pharmacy benefits managers SECTION 1. AMENDATORY 59 O.S. 2021, Section 357, as last amended by Section 2, Chapter 414, O.S.L. 2025 (59 O.S. Supp. 2025, Section 357), is amended to read as follows: Section 357. A. As used in Sections 357 through 360 360.1 of this title: 1. "Clean claim" means a claim that is submitted in accordance with all applicable billing requirements, contains all information reasonably necessary for adjudication, and is not subject to an unresolved eligibility or coverage dispute …