House Bill No. 264 aims to enhance transparency and compensation practices related to pharmacy benefit managers (PBMs) in Louisiana. The bill amends existing law to redefine the term "rebate" and requires each PBM to submit an annual transparency report as a condition of maintaining licensure. It authorizes the commissioner of insurance to examine the records of PBMs to ensure the accuracy of these reports and to review and approve their compensation programs to guarantee that reimbursements to pharmacists and pharmacies are fair and reasonable.

Additionally, the bill establishes that any information submitted by PBMs that is identified as confidential will remain protected under public records law, although the commissioner may disclose such information to insurance departments in other states or during adjudicatory hearings. The legislation also includes provisions for public records exceptions, specifically incorporating the new sections related to PBMs into existing law. Overall, the bill seeks to improve oversight and accountability in the operations of pharmacy benefit managers.

Statutes affected:
HB264 Original: 22:1(A)
HB264 Engrossed: 22:1(A), 44:1(B)(11)
HB264 Reengrossed: 22:1(A), 44:1(B)(11)