140+ Pennsylvania Pharmacies Saved: Governor Josh Shapiro Cracks Down on PBMs with New Transparency Law

Governor Josh Shapiro has signed new legislation to increase transparency and accountability for pharmacy benefits managers (PBMs) in Pennsylvania.

Governor Josh Shapiro Takes Action to Save Pennsylvania Pharmacies from Closure, Cracking Down on PBMs and Their Financial Pressures

Governor Josh Shapiro has taken a significant step to support local pharmacies in Pennsylvania by signing new legislation aimed at keeping these crucial businesses open. Since January, over 140 pharmacies have closed across the state, largely due to issues with pharmacy benefits managers (PBMs). These PBMs which act as intermediaries between insurance companies and pharmacies have been causing financial difficulties for many pharmacy owners, according to the report of ABC 6.

READ ALSO: 68 New Laws Signed By Illinois Governor: Boosting Safety, Supporting Victims, And Enhancing Living Conditions

(photo: CBS News)

New Law Brings Transparency to Pharmacy Benefit Managers, Boosting Support for Pennsylvania Pharmacies

The new law aims to address these issues by increasing transparency around PBMs. It will require them to offer clearer reports and be more accountable for their practices. This change is expected to ease the financial burden on pharmacies helping them manage their finances more effectively and continue to provide essential services to their communities.

Governor Shapiro’s initiative comes at a vital moment for Pennsylvania’s pharmacies, which are facing significant challenges. This legislation represents a proactive effort to protect these businesses and ensure they remain operational. By addressing the problems with PBMs, the state hopes to establish a more stable environment for local pharmacies and prevent further closures.

READ ALSO: 25% Of Low-Income Families Struggle To Get Summer Food Assistance, Thousands Left Without Support