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AL SB73
Bill
AI Summary
SB73 Summary
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Prohibits pharmacy benefit managers from preventing pharmacies and pharmacists from disclosing to patients the cost of prescription drugs without insurance or alternative more affordable options.
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Requires pharmacy benefit managers to register and obtain a license from the Department of Insurance effective January 1, 2020, with a nonrefundable fee not to exceed $500.
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Limits patient point-of-sale prescription drug payments to the lesser of the contracted co-payment amount or the cash price for the drug.
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Establishes the Insurance Commissioner's authority to adopt rules, set penalties and civil fines for violations including monetary fines, license suspension, or revocation.
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Applies to all contracts and health benefit plans issued, renewed, or amended on or after January 1, 2020, and requires existing contracts to comply with the act as a condition of the pharmacy benefit manager's licensure.
Legislative Description
Pharmacy benefit managers, prohibited from restricting pharmacies and pharmacists from disclosing costs information to patients on alternative drugs or other services and costs, enforcement by Insurance Commissioner, audits further regulated including penalties and assessments against pharmacist, Secs. 34-23-184, 34-23-185, 34-23-186 am'd.
Pharmacies and Pharmacists
Last Action
Assigned Act No. 2019-457.
5/30/2019