Health care; creating the Oklahoma Rebate Pass-Through and Pharmacy Benefits Manager Meaningful Transparency Act of 2025; definitions; requirements; effective date.

HB 2817 requires pharmacy benefits managers (PBMs) and health insurers in Oklahoma to reduce enrollees' out-of-pocket costs for prescription drugs by at least 85% of all rebates they receive from drug manufacturers. This means patients pay less at the pharmacy counter based on a price adjusted for these rebates, rather than the full drug cost. PBMs and insurers face fines of $100-$10,000 per violation for noncompliance, though they may pass through more than the 85% requirement. The bill also protects specific rebate details as trade secrets, prohibiting public disclosure of manufacturer- or product-level rebate amounts.