Requires covered entities report to the department of health regarding certain 340B drug discounts

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◆ The sponsor's argument

Why Siela Bynoe says this is needed

The 340B program was designed to provide lower-cost medications to covered entities serving vulnerable populations. By mandating reporting of 340B profit, this bill ensures that covered entities use the program's benefits to directly support patients who are of low income rather than generating excessive revenue. Requiring accountability prevents misuse and ensures funds are reinvested into patient care, rather than put into other institutional expenses. The reporting requirements beginning in April 2026 will require covered entities to disclose financial details about 340B drug purchases and reimbursements. This prevents potential spikes in prices or misuse of program savings and ensures that benefits are reaching low-income patients who rely on discounted medications. Contract pharmacies often dispense 340B drugs but may charge insured patients market rates, allow- ing for large profit margins, increasing oversight within pharmacies ensures that patients receiving 340B drugs especially the uninsured and underinsured are benefiting from the intended cost savings.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.