Prohibits health insurance carriers from obtaining pharmacy benefits manager licenses.

This bill prohibits health insurance carriers (like major insurance companies) from obtaining or renewing licenses to operate as pharmacy benefits managers (PBMs). PBMs are entities that manage prescription drug programs for insurers, and this law specifically blocks insurers from holding these licenses. The bill amends existing licensing rules to require PBMs to meet strict standards for conflicts of interest, anti-competitive practices, and consumer protection, but explicitly bars health insurance carriers from applying for or maintaining such licenses. It does not affect existing PBM licenses held by non-insurer entities.