CT SB00254

Pharmacy benefits managers must establish and maintain monthly-updated lists of maximum allowable costs for generic prescription drugs, prescription devices, pharmacist services, or combinations thereof administered under health benefit plans.

Intentional or willful violations of the maximum allowable cost disclosure requirement constitute unfair or deceptive business practices under Connecticut law.

The Insurance Commissioner gains authority to suspend, revoke, or refuse to issue certificates of registration for pharmacy benefits managers engaging in misleading conduct, including advertising or soliciting that could defraud the public.

Defines "pharmacist services" to include drug therapy, patient care services, education, and interventions provided by licensed pharmacists intended to treat, prevent, or manage disease.

All provisions take effect October 1, 2010.