Technology platform, pharmacy benefit manager, and data protection in vendor contracts provisions modifications

SF 3055 modifies how Minnesota state agencies contract with pharmacy benefit managers (PBMs) and technology vendors. It requires the commissioner of management and budget to use a reverse auction process to select PBMs, mandating that all bidders provide full access to pharmacy claims data and accept standardized contract terms for pricing and definitions. The bill also sets strict security requirements for the technology platform used to manage these contracts, including SOC 2 and NIST certifications, and requires the platform to automatically evaluate bids based on cost metrics like NADAC and average wholesale price. This directly affects the state government, PBMs, and technology vendors managing prescription drug benefit programs for state employees and programs like Medicaid.