NCPA submitted comments in strong support of Colorado HB 23-1227 during its House Health and Insurance Committee hearing on Tuesday, March 14. The bill revised existing PBM laws to include authority for the Office of the Insurance Commissioner to issue fines and other penalties for violations of law. The bill creates a Division of Insurance Cash Fund to receive the fines, which would fund the administration and enforcement of the law. The committee passed an amended version of the bill by a 9-1 vote, sending the revised legislation to the Committee on Appropriations. NCPA also supported Colorado HB 23-1201, legislation that requires a pass-through pricing model for PBMs and provides the insurance commissioner with authority to audit PBMs. An amended version of the bill was referred to the Committee on Appropriations.
NCPA
