HEALTH/ACC INSURANCE: Provides relative to pharmacy benefit managers. (1/1/27) (EN INCREASE SG EX See Note)

Summary

The bill creates state regulations that apply to pharmacy benefit managers (PBMs) for health benefit plans, while specifically carving out an exemption for any plan that is established and regulated under the federal Employee Retirement Income Security Act (ERISA). It therefore affects non‑ERISA health plans, PBMs that work with them, and the individuals covered by those plans. The exemption is intended to avoid conflict with federal law.

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