The proposed bill, General Assembly Proposed Bill No. 820, seeks to amend title 38a of the general statutes to establish a duty of good faith and fair dealing for pharmacy benefits managers (PBMs). This new legal requirement mandates that PBMs must engage in fair and honest interactions with all parties involved in their management services, which includes health carriers, health benefit plan sponsors, pharmacies, and covered persons.

The bill emphasizes the importance of ethical conduct in the operations of pharmacy benefits managers, aiming to enhance transparency and accountability in their dealings. By instituting this duty, the legislation intends to protect the interests of all stakeholders involved in the healthcare system, ensuring that PBMs operate with integrity in their relationships and transactions.