Requires certain standards be established for contracts between pharmacy benefits managers and health benefits plans.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill aims to ensure fairer contracts between health insurance plans and pharmacy benefit managers (PBMs) in New Jersey. It requires health plans to allow any pharmacy meeting their standards to participate in their network, and mandates that the terms of these contracts be reasonable and relevant. The Commissioner of Banking and Insurance will review contract terms and reimbursement rates to determine if they are sufficient for pharmacies to operate. The law will take effect thirteen months after it is enacted and apply to new or renewed contracts.
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