KS SB360

Renames and expands the pharmacy benefits manager (PBM) licensure act to the "Kansas Consumer Prescription Protection and Accountability Act," requiring PBM licensing with fees up to $2,500 for applications and renewals, and registration of auditing entities with fees up to $500

Establishes pharmacy audit protections requiring 14 days advance notice, limiting audits to 250 prescriptions and 24 months of claims, prohibiting extrapolation for calculating penalties, and requiring preliminary reports within 60 days and final reports within 90 days

Mandates PBM reimbursement to pharmacies at no less than the national average drug acquisition cost plus a $10.50 minimum dispensing fee, prohibits point-of-sale and retroactive fees, and requires PBMs to charge health plans the same price paid to pharmacies

Requires PBMs to annually report aggregate rebates received and distributed, reimbursement differences between pharmacies and health plans, and quarterly reporting on drugs reimbursed 10% above or below national average acquisition cost (to be published on PBM websites)

Authorizes the Insurance Commissioner to examine PBMs for compliance, with penalties up to $5,000 per violation and up to $100,000 for operating without a license, and empowers the commissioner to order reimbursement to covered persons or pharmacies harmed by violations