In Review: The Assembly Health Committee staff are reaching out to California Public Employees’ Retirement System (CalPERS) and others to try to get a handle on the cost impact of SB 41 (delinking, spread pricing, transparency, steering). The Governor’s PBM Budget trailer bill was not included in the Assembly/Senate 2026 budget package. However, it is not unusual for trailer bills to move separately and after the overall constitutional budget deadline of June 15.

Up Next: We expect SB 41 to be heard in the Assembly Health Committee in late June or early July. We are working on a PBM 101 briefing for freshmen legislators on July 9.

If you have any questions, please contact Bill Head at bhead@pcmanet.org.