IL HB5917

Requires each pharmacy benefit manager registered in Illinois to submit an annual report to the Director of Insurance by July 1 detailing pricing discounts, rebates, reimbursements, and other financial incentives received during the previous calendar year

Mandates disclosure of terms and conditions of contracts between pharmacy benefit managers and parties providing services to health plans, including dispensing fees paid to pharmacies

Requires reporting of any activities, policies, practices, contracts, or arrangements that may present a direct or indirect conflict of interest in the pharmacy benefit manager's relationship with health plan providers

Allows the Director of Insurance to require additional quarterly reports at the Director's discretion

Protects information designated as proprietary or trade secrets as confidential and requires the Department to adopt necessary rules for implementation; effective January 1, 2026