States Attempting PBM Legislation
Most states have taken some PBM action (licensing, transparency, anti-clawback rules), but only a minority passed the most aggressive reforms (ownership bans, delinking compensation, or guaranteed full rebate pass-through) by mid-2025 — and several states saw promising bills stall or be blocked by courts. Legal risk (ERISA/commerce clause), industry lobbying, cost/access trade-offs, and political calculus […]