Pharmacy Benefits Managers; providing a prescription reimbursement rate for independent pharmacies and regulating other practices
What changed between versions
The definition of 'Health Insurer' was expanded to explicitly include entities subject to state jurisdiction that contract to provide health care services, broadening the range of entities covered by the bill.
The definition of 'Pharmacy Benefits Manager' was updated to include persons administering prescription discount programs directly for or on behalf of a PBM or health benefit plan, ensuring these entities are subject to the same regulations.
New exemptions were added to the 'Pharmacy Benefits Manager' definition, clarifying that licensed healthcare facilities, licensed healthcare professionals, and consultants who only provide advice are not considered PBMs under this act.
Minor formatting and line break adjustments were made throughout the document to finalize the text for printing and publication.