Prescription drugs; creating the Access to Lifesaving Medicines Act; prohibiting certain costs and requiring rebates under certain plans. Effective date.

SB 34, the "Access to Lifesaving Medicines Act," prohibits health insurers and pharmacy benefit managers (PBMs) from requiring patients to pay more than the actual cost of prescription drugs under health benefit plans. It mandates that PBMs offer point-of-sale rebates directly to plan enrollees and sets cost-sharing limits at the lesser of: the drug’s actual cost to insurers, the maximum allowable cost for the drug, or what the patient would pay without insurance. This directly affects Oklahoma patients covered by health benefit plans who fill prescriptions, ensuring they pay no more than the drug’s true cost after rebates and discounts. The law takes effect November 1, 2025.