This bill amends provisions related to pharmacy benefits.
This bill:
- defines terms;
- prohibits a pharmacy benefit manager (PBM) from engaging in spread pricing;
- amends provisions related to drug maximum allowable cost, including regarding lists, appeals, and claims;
- allows entities that are contracted with a PBM to audit the PBM's contract performance;
- specifies penalties; and
- provides the Insurance Department rulemaking authority.