NJ S3733

Requires New Jersey's Division of Purchase and Property to procure pharmacy benefits manager services for the State Health Benefits Program and School Employees' Health Benefits Program through an expedited process using automated reverse auction technology.

Mandates procurement of three specific services: technical assistance for evaluating PBM bidders with online reverse auction capabilities, real-time electronic claims adjudication technology for line-by-line invoice auditing, and the pharmacy benefits manager contract itself.

Authorizes the Division to waive or modify existing laws and regulations that may interfere with expedited procurement, including shortened challenge timeframes, modified advertising requirements, and a 10-business-day State Comptroller review period.

Requires a public report within 60 days of contract award detailing reverse auction results, realized savings, procedural deviations, and accountability measures.

Expires automatically after the next pharmacy benefits manager contract is awarded; references a similar 2016 law (P.L.2016, c.67) that resulted in an estimated $40 million in savings for Fiscal Year 2017.