SB 316
Revises provisions relating to insurance. (BDR 57-777)
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Sign in to take action- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Bill overview
This bill revises regulations surrounding insurance, particularly focusing on pharmacy benefit managers (PBMs). It expands the definition of ‘pharmacy benefits plan’ to include pharmacist services, clarifies PBM responsibilities, and prohibits practices like requiring patients to use affiliated pharmacies or steering them towards them. The bill also aims to increase transparency by requiring PBMs to disclose fees and information about drug formularies and makes third-party insurers responsible for cost-sharing obligations based on net drug prices. Finally, it establishes penalties for non-compliance.
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