S.B. No. 1122 amends the Texas Insurance Code to clarify the applicability of certain prescription drug insurance laws to health benefit plans and pharmacy benefit managers. The bill introduces a new section, 1369.5515, which mandates that pharmacy benefit managers must comply with the provisions of the subchapter for each health benefit plan they administer, regardless of whether specific provisions are applicable to the plan. However, it also states that compliance is not required for plans explicitly excluded from the subchapter. Additionally, the bill specifies that these provisions apply to health benefit plans provided to Texas residents, irrespective of where the plan is delivered or renewed.

Furthermore, the bill adds subsections (d) and (e) to Section 1369.602, reiterating the compliance requirements for pharmacy benefit managers and the applicability of the subchapter to health benefit plans for Texas residents. The bill requires the commissioner of insurance to repeal any inconsistent rules after the law's effective date and establishes that the changes will only apply to health benefit plans delivered, issued, or renewed on or after January 1, 2026. The act is set to take effect on September 1, 2025.

Statutes affected:
Introduced: Insurance Code 1369.602 (Insurance Code 1369)
Senate Committee Report: Insurance Code 1369.602 (Insurance Code 1369)