RELATING TO PHARMACY BENEFIT MANAGERS.

Requires the Department of Human Services to establish or select and contract with a third-party administrator to serve as the State Pharmacy Benefit Manager (PBM) who shall be responsible for administering all pharmacy benefits for medicaid beneficiaries enrolled with medicaid managed care organization. Requires medicaid managed care organizations to contract with and utilize the State PBM. Establishes requirements to procure the State PBM in addition to the requirements under state law governing purchases of health and human services. Establishes requirements and prohibitions for the contract to be used by the DHS when contracting with the state PBM. Requires the DHS to establish a single-preferred drug list to be used by the State PBM. Requires the DHS to consult with the Med-QUEST Healthcare Advisory Committee on the development, implementation, and oversight of the State PBM program. Requires reports to the Legislature. Appropriates funds.