FL S0860

Creates section 465.1862, Florida Statutes to regulate pharmacy benefit managers (PBMs) and their relationships with pharmacies.

Requires PBMs to provide pharmacies with a current list of sources used to determine maximum allowable cost (MAC) pricing and update pricing information at least every 7 business days with access available within 1 business day at no cost.

Mandates PBMs maintain procedures to eliminate obsolete products from MAC pricing lists and ensure drugs on the list are generally available for purchase from national or regional wholesalers in Florida.

Requires contracts between PBMs and pharmacies to include an appeal process for MAC pricing disputes, with investigations completed within 7 business days, appeals limited to 30 days after initial claim, and denials requiring explanation with alternative National Drug Codes.

Requires PBMs to adjust MAC pricing within 1 business day if an appeal is upheld and apply the adjustment to all similarly situated contracted pharmacies; effective July 1, 2015.