Senate Bill 2484 Summary

• Establishes minimum reimbursement rates requiring pharmacy benefit managers to pay pharmacies at least the national average drug acquisition cost plus $11.29 professional dispensing fee for prescription drugs and pharmacist services.

• Prohibits discriminatory practices against 340B Drug Pricing Program entities, including differential reimbursement rates, excessive fees, network exclusions, and drug modifiers that identify 340B drugs.

• Requires pharmacy benefit managers to pass 100% of pharmaceutical manufacturer rebates to plan sponsors and provide annual aggregate rebate reporting.

• Mandates reasonable administrative appeal procedures allowing pharmacies to challenge reimbursement rates below required minimums, with responses required within 45 business days and corrected reimbursements within 3 business days if appeals are upheld.

• Prohibits pharmacy benefit managers from penalizing patients who choose non-affiliated pharmacies, restricts retaliatory actions against pharmacies exercising rights under the law, and grants the State Board of Pharmacy authority to conduct examinations and issue subpoenas for investigations.