House Bill No. [insert number] aims to establish new regulations for the Office of Group Benefits in Louisiana by enacting Subpart B of Part I of Chapter 12 of Title 42 of the Louisiana Revised Statutes. This new subpart includes definitions for key terms such as "administrator," "pharmacy benefit manager," "administrative fee," and "revenues." It mandates that administrators and pharmacy benefit managers file annual reports detailing revenues outside of their administrative fees, and it requires them to remit any revenues directly attributable to their contracts with the office. The bill also outlines penalties for failing to comply with these reporting requirements, including potential fines that could amount to twice the revenues not disclosed.

Additionally, the bill includes a provision that allows the Office of Group Benefits to promulgate emergency rules for the initial implementation of these regulations. It also incorporates a reference to R.S. 42:814(C) into the existing rules and fees chapter, ensuring that specific exceptions and limitations to rule adoption and fee adjustments are maintained. The act is set to take effect on July 1, 2024, unless vetoed by the governor and subsequently approved by the legislature.