Senate Bill No. 347, introduced by Senator Harris, aims to enhance fairness in cost-sharing practices related to health insurance and pharmacy benefits. The bill amends existing law and introduces new provisions under R.S. 22:976.2 and 1657.2, which define key terms such as "defined cost-sharing," "health insurance issuer," "insurer," "net price," "price protection rebate," and "rebates." It mandates that an enrollee's defined cost-sharing for prescription drugs be calculated at the point of sale based on the net price, which accounts for all rebates. Additionally, it allows health insurance issuers to decrease an enrollee's cost-sharing beyond the required amount and establishes civil or criminal penalties for non-compliance, with fines not exceeding $1,000 per claim.

The bill also emphasizes the confidentiality of rebate information, classifying it as a trade secret that cannot be disclosed by health insurance issuers or their agents. This information is not considered a public record, thereby protecting the financial and competitive interests of the issuers. The legislation will take effect upon the governor's signature or after the designated period for gubernatorial action if not signed. The bill also amends R.S. 44:4.1(B)(11) to include the new provisions, ensuring they are recognized within the state's public records laws.

Statutes affected:
SB347 Original: 44:1(B)(11)
SB347 Engrossed: 44:1(B)(11)