SB 161 Summary

• Attorney General must review and approve retail pharmacy network access for all pharmacy benefits managers (PBMs) to ensure compliance with existing law.

• PBMs prohibited from charging pharmacies fees related to claim adjudication, network participation, credentialing, application, ownership changes, or claims processing services.

• PBMs must reimburse independent pharmacies at equal rates to PBM-owned or PBM-affiliated pharmacies for identical services using the same pricing methodology.

• PBMs required to maintain fiduciary duty to insurers and insureds, fully disclose rebates and discounts to clients, provide unrestricted audit rights, and submit quarterly reports to the Attorney General detailing rebates, reimbursements, and pharmacy utilization data.

• PBMs prohibited from restricting pharmacies from informing patients of cost differences between using insurance coverage versus paying directly, and contract provisions cannot prevent disclosure to government officials investigating PBM compliance; effective November 1, 2025.