SC H4792

Increases administrative penalties for violations of insurance laws by insurers, pharmacy benefits managers, and health maintenance organizations from $15,000 to $25,000 per violation

Raises penalties for willful violations from $30,000 to $250,000

Increases initial license application fees for pharmacy benefits managers from $1,000 to $25,000

Raises annual license renewal fees for pharmacy benefits managers from $500 to $10,000

Takes effect upon approval by the Governor