This bill establishes new reporting requirements for hospitals participating in the federal 340B drug pricing program in Kansas, effective January 1, 2027. It defines key terms such as "340B entity," "340B contract pharmacy," and "340B drug," and mandates that each participating hospital submit an annual report to the Kansas Department of Insurance. The report must detail how savings from the 340B program benefit the community, provide estimated savings comparisons, and include information on the hospital's internal oversight of the program. Additionally, hospitals must report specific data, including their national provider identification number, address, classification, aggregated acquisition costs, payments received, and expenses related to the 340B program.

The bill also requires the Department of Insurance to compile and publish a summary report based on the information received from hospitals. The commissioner of insurance is tasked with adopting necessary rules and regulations to implement these provisions by the specified deadline. Overall, the legislation aims to enhance transparency and accountability regarding the use of savings from the 340B program by hospitals in Kansas.