SB 2443 - Pharmacy Benefit Managers

• Prohibits pharmacy benefit managers from restricting pharmacists' ability to disclose health information to consumers, including treatment nature, risks, alternatives, and financial incentive structures.

• Prohibits pharmacy benefit managers from requiring consumers to pay more than the lesser of their cost-sharing amount or the cash price for prescription drugs, and prohibits differential reimbursement of 340B pharmacies.

• Requires pharmacy benefit managers to register with the insurance commissioner and grants the commissioner authority to suspend or revoke registrations and impose penalties up to a specified amount per violation.

• Repeals section 328-106 requiring the Department of Health to enforce pharmacy benefit manager contracts and prohibits maximum allowable cost reimbursement in managed care contracts after December 31, 2022.

• Effective January 1, 2050.