The bill amends Chapter 27-29.1 of the General Laws by introducing a new section titled "Fair pharmacy reimbursement and anti-discrimination." It requires pharmacy benefit managers (PBMs) to reimburse non-affiliated pharmacies or pharmacists an amount that is not less than the net effective reimbursement, inclusive of all fees, adjustments, incentives, and other remuneration, paid 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 compared to affiliated pharmacies 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, to verify compliance with these provisions. It establishes enforcement mechanisms by the OHIC and the attorney general, and specifies that all Medicaid managed care organizations and their contracted PBMs must comply with these provisions regarding Medicaid pharmacy benefits.

Furthermore, the bill prohibits PBMs, insurers, or Medicaid managed care organizations from evading compliance through affiliation structures, subcontracting, differential pricing metrics, reimbursement methodologies, or contractual arrangements designed to favor affiliated pharmacies or pharmacists. The act will take effect upon passage.