Relating to pharmacy benefits; declaring an emergency.
Catchline/Summary:
Requires pharmacy benefit managers to be licensed by Department of Consumer and Business Services beginning January 1, 2024. Requires pharmacy benefit managers to be licensed by Department of Consumer and Business Services beginning January 1, 2024. Modifies definition of "pharmacy benefit manager" and imposes new requirements on pharmacy benefit managers. Modifies procedures for pharmacy to appeal payment by pharmacy benefit manager on claim for reimbursement. Restricts audits of pharmacy claims for reimbursement.
Requires policies or certificates of health insurance and contracts providing for reimbursement of cost of prescription drugs to allow policyholder, certificate holder and beneficiary to select pharmacy or pharmacist for filling prescriptions and prescription renewals, to contract with any pharmacy or pharmacist willing to abide by terms and conditions of policy, certificate or contract. Imposes new requirements with respect to insurance coverage of 340B drugs.
Appropriates moneys from General Fund to Department of Consumer and Business Services for purpose of employment assistance in regulation of pharmacy benefit managers.
Declares emergency, effective on passage.
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