Requires pharmacy benefits manager compensation to be based on bona fide service fee.

Summary

The bill mandates that any compensation a pharmacy benefits manager (PBM) receives from health carriers must be a bona‑fide service fee reflecting fair market value, not a commission linked to drug costs or rebates. It applies to carriers’ contracts with PBMs for managing prescription drug benefits and aims to prevent fees from being passed on to patients. The fee must be a flat dollar amount determined by the Commissioner of Banking and Insurance.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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