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NJ S4696
Bill
Status
10/20/2025
Primary Sponsor
Douglas Steinhardt
Click for details
AI Summary
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Health insurance carriers are prohibited from obtaining new pharmacy benefits manager (PBM) licenses in New Jersey
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Carriers that already hold PBM licenses issued before the bill's effective date are prohibited from renewing those licenses
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Amends the existing PBM licensing law (P.L.2023, c.107) to add this prohibition on carrier ownership of PBMs
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The measure takes effect immediately upon enactment
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Sponsored by Senators Douglas J. Steinhardt (R-District 23) and Vin Gopal (D-District 11) as a bipartisan effort to separate health insurance carriers from pharmacy benefits management operations
Legislative Description
Prohibits health insurance carriers from obtaining pharmacy benefits manager licenses.
Commerce
Last Action
Introduced in the Senate, Referred to Senate Commerce Committee
10/20/2025