Relates to reducing pharmacy benefit manager costs

This bill (S 6161) requires pharmacy benefit managers (PBMs) to charge health insurers and health plans only for actual drug costs, pharmacy dispensing fees, and a fair administrative fee - passing through all rebates, discounts, and other financial benefits directly to the health plan. It bans "spread pricing" (where PBMs keep the difference between what they pay pharmacies and charge plans) and mandates full disclosure of all income sources to the state department. PBMs must provide quarterly refunds for any excess amounts kept under the old pricing model. The bill directly affects health insurers, health plans, and PBMs operating in New York, aiming to reduce prescription drug costs for consumers through transparency and cost accountability.