LA SB337

Establishes duties of care, good faith, and fair dealing that pharmacy benefit managers (PBMs) owe to enrollees, health plans, and providers, with enrollee interests taking priority over other parties

Prohibits PBMs from retaining rebates and fees, limiting their income to pharmacy benefit management fees that cannot be based on drug prices, savings, or patient cost-sharing amounts

Authorizes the Insurance Commissioner and contracted health plans to audit PBMs once per calendar year, with access to reimbursement data, rebate information, and claims history within 30 days of request

Requires PBM contracts entered into or renewed after January 1, 2027 to specify all revenue forms and acknowledge that spread pricing is prohibited

Imposes civil monetary penalties up to $1,000 per claim for violations and creates a private cause of action allowing aggrieved parties to sue PBMs in state court