Pharmacy Benefit Manager Transparency Act; create.

HB 1413, the Pharmacy Benefit Manager Transparency Act, requires pharmacy benefit managers (PBMs) operating in Mississippi to obtain a state license and submit annual transparency reports to the Mississippi Board of Pharmacy. These reports must detail how PBMs handle rebates from drug manufacturers, including the percentage they retain rather than passing to health insurance companies. The bill also establishes a fiduciary duty for PBMs toward health carriers and prohibits retaliation against whistleblowers. It directly affects PBMs, health insurance companies, and pharmacies in Mississippi, aiming to increase accountability in prescription drug cost management. The bill died in committee on February 4, 2025, and did not become law.