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Read. Follow. Verify.Nevada Bill SB 209 Regulates Pharmacy Benefit Managers to Pass Rebates to Consumers and Bans Spread Pricing
Last action · April 12, 2025: (Pursuant to Joint Standing Rule No. 14.3.1, no further action allowed.)Sponsors: Jeff Stone and 6 others
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What This Bill Proposed
Nevada Senate Bill 209 prohibits pharmacy benefit managers (PBMs) from using , requires them to pass 100% of drug manufacturer s directly to insurers or consumers at the point of sale to lower out-of-pocket costs, and bans steering patients to PBM-affiliated pharmacies starting January 1, 2026.
Who It Would Have Affected
Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.
Pharmacy Benefit Managers
Pharmacy benefit managers must comply with new transparency disclosures, submit annual reports to the Insurance Commissioner, cease spread pricing, pass 100% of rebates to insurers or consumers, and stop patient steering toward affiliated pharmacies.
Covered Persons and Insureds
Covered persons receive manufacturer rebates directly at the point of sale to offset cost-sharing obligations and gain freedom to choose nonaffiliated network pharmacies without mandatory steering.
Independent Pharmacies
Independent pharmacies are protected from discriminatory reimbursement rates, unfair contract terminations, retroactive claim reductions, and can sue PBMs for statutory damages if retaliated against.
Third Party Insurers
Third-party insurers must receive fee disclosures and rebate transmissions from PBMs and must use all received rebate funds exclusively to reduce enrollee premiums and cost-sharing obligations.
Key Facts
- Prohibits a pharmacy benefit manager (PBM) from requiring a covered person to use a PBM-affiliated pharmacy if nonaffiliated network pharmacies are available.
- Bans PBMs from using spread pricing, defined as charging a third party a different amount for a drug than what is paid to the dispensing pharmacy.
- Requires PBMs to pass the entire amount of manufacturer or wholesaler rebates to the covered person at the point of sale or to the third-party insurer.
- Mandates that insurers use any rebate money received from a PBM exclusively to reduce premiums and offset or reduce insureds' cost-sharing obligations.
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- Prohibits PBMs from entering into exclusive drug coverage contracts with manufacturers or disseminating deceptive statements and advertisements.
- Requires PBMs to submit an annual report to the Commissioner of Insurance by April 1 detailing pricing, rebates, top drugs, and administrative fees.
- Directs the Commissioner of Insurance to compile a biennial report on the overall impact of PBMs on prescription drug costs for the Legislature.
- Authorizes independent pharmacies to bring a civil action for statutory damages of $5,000 per violation against PBMs that retaliate for reporting legal violations.
- Removes exemptions for certain ERISA-covered employer prescription drug plans, subjecting those PBM operations to state oversight to the extent authorized by federal precedent.
- Establishes that provisions become effective on January 1, 2026, for contracts entered into or renewed on or after that date.
Frequently Asked Questions
What is spread pricing and how does the bill address it?
What happens to the drug rebates collected by pharmacy benefit managers?
Can a PBM force patients to use a mail-order or specialty pharmacy they own?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
This bill did not become law - Died at adjournment · in Senate committee.
Procedural history
3 actions- Apr 12, 2025(Pursuant to Joint Standing Rule No. 14.3.1, no further action allowed.)
- Feb 19, 2025CommitteeFrom printer. To committee.
- Feb 18, 2025IntroducedRead first time. Referred to Committee on Commerce and Labor. To printer.
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Show 2 more sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Elimination of ERISA Plan Exemptions
The bill curtails previous broad exemptions for certain employer-sponsored prescription drug plans under ERISA, aligning state oversight with recent U.S. Supreme Court precedent.
Connected Entities
Sources
www.leg.state.nv.us
Analysis Score
0–100- Significance20Lowered because this bill did not pass (its text scored 85)
- Controversy75Intensity of disagreement among stakeholders
- Entertainment15Compellingness for a non-policy-wonk reader
- Buzz60Current news / social attention level
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