AN ACT RELATING TO INSURANCE -- PHARMACY FREEDOM OF CHOICE -- FAIR COMPETITION AND PRACTICES

SB 222 requires pharmacy benefit managers (PBMs) to reimburse pharmacists at least the national average drug acquisition cost (based on federal CMS data) plus a standard dispensing fee, or the wholesale acquisition cost plus the fee if national data isn't available. This directly affects community pharmacies and PBMs, ensuring they receive fair payment for dispensing medications. The bill mandates PBMs to disclose financial arrangements to regulators and allows the Health Insurance Commissioner to impose civil fines of up to $10,000 per violation for noncompliance. It aims to prevent PBMs from underpaying pharmacies, promoting fair competition in drug pricing.