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Rhode IslandS30602026 Regular SessionSenate

AN ACT RELATING TO INSURANCE -- PHARMACY BENEFIT MANAGERS ACT .

Sponsored By: Peter A. Appollonio, Jr. (Democratic)

Signed by Governor

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 1 benefits, 2 costs, 1 mixed.

PBM rules take effect now

The Department of Business Regulation must write rules to carry out the PBM law. The rules must include how to notify insurers, covered people, employers, and other groups. The law takes effect upon passage.

Annual rebate reporting by PBMs

Each PBM must file a sworn annual report by July 1. It must list discounts, rebates, and all money from drug makers, and show what was kept versus passed to insurers. It must also summarize contract terms and list covered drugs by name and code. The Director can demand more reports and inspect contracts. Late or incomplete responses can trigger penalties up to $10,000 per day.

Licenses and fees for PBMs

PBMs must hold a state certificate to operate. An application must include organization papers, a business plan, and two years of financial statements. The fee is $10,000 at application; the certificate lasts 24 months and costs $10,000 to renew. A replacement certificate costs $2,000 with an affidavit, and PBMs must report ownership or address changes within 30 days. The Director may also charge PBMs for the department’s costs to regulate them.

Stronger PBM enforcement and protections

The Director oversees PBMs and can require records, inspect contracts, and hold hearings. PBMs cannot do what insurers are banned from doing and are responsible for violations by their subcontractors and affiliates. Violations can lead to restitution and damages, plus civil fines up to $10,000 for a first offense and $15,000 after, or the PBM’s related gross receipts. Licenses can be suspended or revoked for fraud, misrepresentation, financial problems, and other misconduct; at least 10 days’ notice is required before a hearing. PBMs must also report out‑of‑state administrative actions and criminal cases within 30 days; unpaid penalties after 20 days can trigger suspension or revocation.

Sponsors & Cosponsors

Sponsor

  • Peter A. Appollonio, Jr.

    Democratic • Senate

Cosponsors

  • Frank A. Ciccone, III

    Democratic • Senate

  • Matthew L. LaMountain

    Democratic • Senate

  • Valarie J. Lawson

    Democratic • Senate

  • Melissa A. Murray

    Democratic • Senate

  • David P. Tikoian

    Democratic • Senate

Roll Call Votes

All Roll Calls

Yes: 203 • No: 10

House vote • 6/10/2026

PHARMACY BENEFIT MANAGERS ACT PASSAGE PASSAGE OF AMENDMENT

Yes: 68 • No: 0

House vote • 6/10/2026

PHARMACY BENEFIT MANAGERS ACT PASSAGE AS AMENDED

Yes: 70 • No: 0

Senate vote • 5/26/2026

RELATING TO INSURANCE -- PHARMACY BENEFIT MANAGERS ACT Passage as Amended

Yes: 38 • No: 0

Senate vote • 5/26/2026

RELATING TO INSURANCE -- PHARMACY BENEFIT MANAGERS ACT Approval of Amendment

Yes: 27 • No: 10

Actions Timeline

  1. Signed by Governor — Chapter 367

    6/22/2026Governor

  2. Transmitted to Governor

    6/18/2026Governor

  3. Senate passed Sub B as amended in concurrence

    6/11/2026Senate

  4. Placed on Senate Calendar (06/11/2026)

    6/10/2026Senate

  5. House passed Sub B as amended (floor amendment)

    6/10/2026House

  6. Placed on House Calendar (06/10/2026)

    6/9/2026House

  7. Committee recommends passage of Sub B

    6/9/2026

  8. Proposed Substitute

    6/7/2026

  9. Scheduled for consideration (06/09/2026)

    6/7/2026

  10. Referred to House Health & Human Services

    5/27/2026House

  11. Senate passed Sub A as amended (floor amendment)

    5/26/2026Senate

  12. Placed on Senate Calendar (05/26/2026)

    5/20/2026Senate

  13. Committee recommends passage of Sub A

    5/19/2026

  14. Proposed Substitute

    5/18/2026

  15. Scheduled for consideration (05/19/2026)

    5/15/2026

  16. Committee recommended measure be held for further study

    3/26/2026

  17. Scheduled for hearing and/or consideration (03/26/2026)

    3/20/2026

  18. Introduced, referred to Senate Health and Human Services

    3/12/2026Senate

Bill Text

  • S3060 - As Introduced

    3/12/2026

    HTMLPDF

  • S3060 - Substitute

    3/12/2026

    HTMLPDF

  • S3060 - Substitute As Amended

    3/12/2026

    HTMLPDF

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