This bill amends the Health Care Purchasing Act to require health insurance plans that provide prescription drug benefits to reimburse community-based pharmacies for the full cost of prescription drugs, in addition to a professional dispensing fee. Specifically, the reimbursement for the ingredient cost of a prescription drug must be at least equal to the national average drug acquisition cost at the time the drug is dispensed, or the wholesale acquisition cost if the former is unavailable. Furthermore, the professional dispensing fee must be no less than what is reimbursed for covered outpatient drugs in the Medicaid fee-for-service program.

The bill defines "community-based pharmacy provider" and outlines specific criteria for what constitutes such a provider, ensuring that it excludes government-owned, hospital-owned, and corporate chain pharmacies, among others. The effective date for the provisions of this act is set for January 1, 2026. This legislation aims to enhance the financial viability of community-based pharmacies and ensure fair compensation for the services they provide.