The bill amends existing provisions related to pharmacy benefit managers and in-network retail pharmacies in Wyoming. It introduces a new subsection (d) to W.S. 26-52-105, which mandates that a person's choice of in-network provider must include a retail pharmacy. Additionally, the Department of Insurance is tasked with creating rules concerning the network adequacy of in-network retail pharmacies and their locations. The bill also prohibits insurers and pharmacy benefit managers from using discounts in cost-sharing, reductions in copays, or the number of copays as incentives for choosing a specific in-network pharmacy.

The Department of Insurance is required to promulgate all necessary rules to implement the act, which will apply to prescription drugs dispensed on or after its effective date. The act is set to take effect on January 1, 2025, with certain sections becoming effective immediately upon the completion of necessary legislative processes.

Statutes affected:
Introduced: 26-52-105