On May 3, Florida Gov. Ron DeSantis signed a comprehensive law, the Prescription Drug Reform Act, which imposes several requirements on pharmacy benefit managers, or PBMs. These include a licensing requirement and provisions governing transparency and accountability for relationships between PBMs and other relevant players involved with the delivery of prescription drug benefits.

In a Law360 article, healthcare partners Tom Range and Bruce Platt in Tallahassee explain a few of the act's requirements and discuss some practical considerations for compliance.

The authors wrote: "The act also imposes a host of new requirements on the relationships between PBMs and pharmacy benefit plans that pay for or provide access to discounts on pharmacist services, e.g., an insurer, health maintenance organization or a self-funded employer plan, as well  as those between PBMs and their contracted pharmacies."