Prohibits pharmacy benefit manager from using spread pricing as model of prescription drug pricing; requires transparency in provision of pharmacy benefits management services.

Summary

The bill stops pharmacy benefit managers (PBMs) from using spread pricing and requires them to pass all rebates and fees back to health plans. It also obligates PBMs to file detailed quarterly and annual financial reports and lets the state publish a public summary. The goal is to lower drug costs for consumers and make PBM practices visible.

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

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