CT SB00014

Establishes comprehensive regulations for pharmacy audits conducted by pharmacy benefits managers or plan sponsors, including requirements for written notice, audit scope limitations (maximum 24 months or 250 prescriptions), and prohibition of compensation tied to recoupment amounts.

Requires auditing entities to provide pharmacies with at least ten business days' prior written notice and a masked prescription list before conducting audits, and prohibits audits during the first five business days of any month for high-volume pharmacies without consent.

Mandates a two-step review process where auditing entities must provide an initial audit review within 60 days, allow the pharmacy 30 days to respond, and issue a final report within 60 days of receiving responses.

Prohibits use of extrapolation to calculate penalties or chargebacks (except when required by federal law) and protects pharmacies from charges for clerical or recordkeeping errors unless actual financial harm occurred.

Requires pharmacy benefits managers to pay claims to pharmacies by electronic funds transfer upon written request, using payment timelines specified under existing insurance regulations.