Prohibits health insurance carriers from obtaining pharmacy benefits manager licenses.

This bill prohibits health insurance carriers (companies that sell health insurance plans) from obtaining or renewing licenses to operate as pharmacy benefits managers (PBMs). PBMs are entities that manage prescription drug benefits for health plans. The law directly affects insurance companies that currently hold or seek PBM licenses, blocking them from acting as PBMs under New Jersey's licensing rules. It amends existing law to explicitly ban carriers from obtaining these licenses, ensuring PBMs must be separate entities from health insurers. The change takes effect immediately upon passage.