LA SB323

Increases mandatory fines for pharmacy benefit violations to $25,000 per violation with no aggregate cap, up from the general $1,000 per violation with $100,000 annual maximum for other insurance code violations

Requires the Insurance Commissioner to suspend or revoke licenses if pharmacy benefit violations are not corrected within 30 days of receiving notice of fines or cease and desist orders

Removes aggregate penalty caps for health insurance issuers who violate cease and desist orders related to pharmacy claims, changing from a $250,000 maximum to unlimited penalties

Eliminates the "knew or should have known" standard previously required before the commissioner could suspend or revoke certificates of authority for pharmacy payment violations

Amends R.S. 22:18(A), 1860, 1969, and 1970(A); effective upon governor's signature or lapse of time for gubernatorial action