An Act ensuring access to fair and reasonable pharmacy networks

This bill (SD 761) requires pharmacy benefit managers (PBMs) to maintain fair and accessible pharmacy networks for patients, directly affecting PBMs, health insurers, and community pharmacies. It prohibits "steering" (directing prescriptions to owned/affiliated pharmacies) and mandates that PBMs provide networks with convenient access to physical pharmacies near patients' homes, excluding mail-order options from adequacy calculations. Violating these rules triggers a 10% surcharge on the PBM's prior year's pharmacy reimbursements, payable to the state division. The law aims to prevent anti-competitive practices that limit patient choice and access to local pharmacies.