FL S1306

Creates the Medicaid Pharmacy Benefit Savings Optimization Act requiring the Agency for Health Care Administration to select a single pharmacy benefit administrator through competitive procurement by October 1, 2021, to manage all pharmacy benefits for Medicaid recipients in managed care plans.

Prohibits managed care organizations from providing pharmacy benefits to their enrolled members once the single administrator is selected.

Requires the pharmacy benefit administrator contract to establish fiduciary duty to the state, use pass-through pricing, adopt the agency's existing fee-for-service preferred drug list and reimbursement methodologies, prohibit mandatory mail-order pharmacy use, and prohibit excluding willing pharmacies from the network.

Mandates the agency calculate 20 percent of each managed care organization's net underwriting gain for the July 1, 2020–June 30, 2021 contract year and reduce subsequent payments by that amount to fund pharmacy benefits and implementation costs.