A 5012
Requires certain standards be established for contracts between pharmacy benefits managers and health benefits plans.
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- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill aims to ensure fairer contracts between health insurance plans and pharmacy benefit managers (PBMs). It requires health plans to allow any pharmacy meeting their standard terms to participate in their network. The Commissioner of Banking and Insurance will determine if the contract terms are reasonable, considering current fees and whether they adequately cover pharmacy costs. The law will take effect a year after it’s passed and apply to new or renewed contracts.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Luanne Peterpaul
Cosponsor
Vincent Kearney
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