This bill amends the reporting requirements for pharmacy benefits managers (PBMs) and insurers concerning pharmaceutical rebates. It changes the frequency of reports that PBMs must submit to the commissioner from annual to quarterly and specifies that these reports should not apply to Medicaid, the Medicaid Care Management Program, the Ryan White HIV/AIDS Program, or self-funded plans like the state employee health benefit plan. The reports must now include detailed information such as the aggregate number of rebates, total value received, distributed, and passed on to insured individuals, as well as amounts paid by insurers to PBMs and by PBMs for pharmacist services, itemized by various categories. Additionally, the bill modifies the requirements for insurers to demonstrate compliance with rebate cost-sharing. The starting date for annual reporting by insurers is changed from November 1, 2020 to March 1, 2025. Insurers must now include an actuarial certification in their reports, detailing how rebates were used to reduce policyholder costs and applied to plan design, as well as the methodology for estimating rebate amounts. The bill also removes the prospective repeal of RSA 415-A:7, which pertains to insurer cost-sharing of rebates. The act is set to take effect on June 30, 2024.

Statutes affected:
Introduced: 402-N:6, 415-A:7
As Amended by the Senate: 402-N:6, 415-A:7
Version adopted by both bodies: 402-N:6, 415-A:7
CHAPTERED FINAL VERSION: 402-N:6, 415-A:7