Plain English Breakdown
The bill did not pass and was not considered for introduction, so it has no effective date.
Changes to Pharmacy Benefit Managers
This act amends rules related to pharmacy benefit managers and requires insurance companies to create rules about in-network pharmacies.
What This Bill Does
- Adds a new rule that says people can choose any in-network pharmacy without being pushed towards one by discounts or lower copays.
- Requires the Department of Insurance to make rules about how many and where in-network pharmacies should be available.
Who It Names or Affects
- Insurance companies
- Pharmacy benefit managers
Terms To Know
- In-network pharmacy
- A pharmacy that has a contract with an insurance company to provide services at lower costs.
- Copay
- The amount of money a person pays for each prescription drug after their health insurance covers part of the cost.
Limits and Unknowns
- This bill did not pass and was not considered for introduction.
- It is unclear how many in-network pharmacies will be required or where they must be located.