FL H0351

Pharmacists must inform customers of less expensive, generically equivalent drug products and whether the patient's cost-sharing obligation exceeds the retail price without insurance coverage.

Pharmacy benefit managers must register with the Office of Insurance Regulation effective January 1, 2019, with a nonrefundable registration fee not to exceed $500, valid for 2 years.

Pharmacy benefit managers must update maximum allowable cost pricing information at least every 7 calendar days and maintain processes to eliminate outdated drugs from pricing lists.

Health insurers and health maintenance organizations must prohibit pharmacy benefit managers from limiting pharmacists' ability to disclose cost-sharing information and from requiring patients to pay more than the lesser of applicable cost-sharing or the retail price without coverage.

Section 465.1862 relating to pharmacy benefit manager contracts is repealed, and the act takes effect July 1, 2018.