This bill requires administrators and pharmacy benefits managers that provide health coverage or prescription drug coverage under a contract with a plan sponsor, including any person that offers health coverage or prescription drug coverage to its employees or members through a self-funded health benefit plan, to provide certain claims information to a plan sponsor upon request. The bill also gives a plan sponsor the right to request an audit to ensure compliance with a contract at least once every calendar year as long as the request is at least 6 months after a previously requested audit.