LA SB377

Pharmacy benefit managers (PBMs) may negotiate rebates and fees but cannot retain them; PBMs can only derive income from pharmacy benefit management fees that do not exceed the value of services actually performed

The Insurance Commissioner and contracted insurers/health plans may audit PBMs once per calendar year, with PBMs required to provide requested information within 30 days, including claim-level reimbursement data, rebate amounts, and differences in payments between affiliated and unaffiliated pharmacies

PBM contracts with insurers or health plans entered into, amended, extended, or renewed on or after January 1, 2027 must specify all forms of revenue and acknowledge that spread pricing is prohibited

PBMs must annually certify compliance to the Commissioner of Insurance by December 31, signed by the CEO or CFO; violations are punishable by civil penalties up to $1,000 per claim

Repeals existing law (R.S. 22:1856(F)) requiring health insurance issuers to decide processing fees in conjunction with affected pharmacists; effective upon governor's signature