LA HB1217

Requires pharmacy benefit managers (PBMs) and insurers to disclose all affiliated entities involved in pharmacy services, including complete corporate vertical integration structures, ownership, financial relationships, and revenue flows between entities

Mandates quarterly claims-level reporting to the Insurance Commissioner and Attorney General covering billed/paid amounts, all direct and indirect remuneration, post-sale adjustments, and reimbursements to local and non-local pharmacies

Establishes $1 million minimum civil penalty per violation, with treble damages for knowing or willful violations; each undisclosed remuneration, failure to disclose affiliates, or reporting failure counts as a separate violation

Creates the Pharmacy Benefit Enforcement Fund administered by the Attorney General, funded by civil penalties and settlements, to support investigations and consumer protection; whistleblowers may receive up to 25% of recovered funds

Defines PBMs as fiduciaries with duties of loyalty, prudence, and good faith toward health plans and plan sponsors; prohibits recharacterizing spread pricing through administrative fees, affiliate payments, or service charges