Relating to applicability of certain prescription drug insurance laws to health benefit plans and pharmacy benefit managers.

SB 1122 clarifies that pharmacy benefit managers (PBMs) - companies that manage prescription drug benefits for insurers - must follow existing Texas prescription drug insurance laws for all health benefit plans serving Texas residents, regardless of whether specific rules were previously applied to those plans. It requires PBMs to comply with these laws for every plan they administer, even if the plan was delivered outside Texas. The law applies only to health benefit plans delivered, issued, or renewed on or after January 1, 2026, with existing plans governed by prior rules. This bill expands the scope of current insurance regulations to ensure consistent oversight of PBMs managing drug benefits for Texans.