Senate Bill 1122 enforces state regulations on PBMs to protect pharmacies and patients.

A strike‑all to HB 697 that retains requirements preventing PBMs from forcing pharmacies to accept losses and that exempts PBMs serving only PACE programs was reported favorably. Independent pharmacists and trade groups urged stronger enforcement and cited an OIR report alleging PBM noncooperation.

SB 1256 would standardize pharmacy audits by PBMs, limit frequency and scope, and require proportional penalties; pharmacists testified the bill is needed to prevent conflicts where PBMs own retail pharmacies and to protect community pharmacies from burdensome audits.

Senators debated a negotiated pharmacy benefit manager (PBM) reform package (Senate substitutes for bills 9-84 and 9-68). Sponsors said it increases transparency and limits arbitrary audits that have been harming independent pharmacies. Several floor amendments were voted on: an amendment to extend a negotiated rate floor to all pharmacies failed, while a carve-out clarifying state enforcement for self-funded plans was adopted; other amendments addressing maternal health and dispensing protections were also adopted.

At Ways & Means, committee considered amended H.577 to establish a Vermont prescription drug discount card. Pharmacists testified that ArrayRx/ArrayRx-like cards often collect per-transaction fees that reduce pharmacy margins; the state treasurer supported participation, citing other states' savings and governance and saying Vermont would not be charged a program fee.