Ohio’s small business advocacy group, NFIB, has expressed support for Substitute House Bill 229, which recently passed in the Ohio Senate. The organization is now urging the Ohio House to agree to the bill. The legislation introduces a dedicated licensing process and new requirements for pharmacy benefit managers (PBMs).
Jared Weiser, NFIB Ohio State Director, stated: “House Bill 229 provides much-needed transparency changes to pharmacy benefit managers that will benefit Ohio’s small employers. PBMs play a crucial role in the availability and pricing of prescription drugs, and small businesses welcome changes to make the process more transparent. House Bill 229 aims to lessen unnecessary costs on consumers and will help level the playing field for small businesses.”
The Federal Trade Commission reports that three major PBMs control most of the market share, accounting for about 80%. This concentration has resulted in reduced competition and increased prices for small businesses in Ohio. NFIB continues to advocate for healthcare solutions that are affordable and predictable for these businesses.
