House Bill No. 264, introduced by Representative Echols, amends R.S. 22:1657.1(A) to enhance transparency and utilization of pharmaceutical rebates by pharmacy benefit managers (PBMs). The bill requires PBMs to submit an annual transparency report as a condition of maintaining their licensure. Additionally, it mandates that PBMs calculate a covered individual's defined cost-sharing for prescription drugs at the point of sale, reducing it by 100% of any rebates received in connection with the drug.

Furthermore, if the total rebate exceeds the individual's cost-sharing amount, the excess savings must be passed on to the employer or sponsor of the health plan. This legislative change aims to ensure that health plan sponsors benefit from the rebates, ultimately promoting cost savings for both employers and individuals receiving health benefits. The bill reflects a shift towards greater accountability and financial transparency in the management of pharmaceutical costs.

Statutes affected:
HB264 Original: 22:1(A)