The bill amends Chapter 27-29.1 of the General Laws by introducing a new section titled "Fair pharmacy reimbursement and anti-discrimination." It establishes that pharmacy benefit managers (PBMs) are required to reimburse non-affiliated pharmacies or pharmacists in an amount that is not less than the net effective reimbursement, inclusive of all fees, adjustments, incentives, and other remuneration, paid directly or indirectly to affiliated pharmacies or pharmacists for the same drug or service.

Additionally, PBMs are prohibited from imposing contractual terms, reimbursement methodologies, performance metrics, or other requirements that would result in lower reimbursement rates for non-affiliated pharmacies or pharmacists compared to affiliated counterparts for the same drug or service.

The bill mandates transparency by requiring PBMs to provide reimbursement data to the Office of the Health Insurance Commissioner (OHIC) upon request, which is necessary to verify compliance with these provisions. It outlines enforcement mechanisms by OHIC and the attorney general, specifies that all Medicaid managed care organizations and their contracted PBMs must comply with these rules regarding Medicaid pharmacy benefits, and prohibits any attempts to evade compliance through various structural or contractual means.

The OHIC is empowered to promulgate and adopt rules and regulations necessary to implement and enforce this section. The act will take effect upon passage.