Provides that pharmacy benefits managers have fiduciary duty to financial interests of covered persons.

This bill requires pharmacy benefits managers (PBMs) to act with a fiduciary duty prioritizing patients' financial interests over those of health insurance carriers. It directly affects all PBMs working with health plans in New Jersey, including those serving state Medicaid and employee health programs. Key provisions include banning PBMs from making patients pay more at checkout than they would without insurance and mandating that PBMs use all funds received from pharmacy services according to contracts or law. The law aims to ensure PBMs manage costs transparently for patients while maintaining their existing duties to health plans.