SC H4793

Requires examinations of pharmacy benefits managers (PBMs) and pharmacy services administrative organizations (PSAOs) to comply with Chapter 13, Title 38 of the South Carolina Code, which governs insurance department examination procedures

Authorizes the director to examine or audit books and records of PBMs and PSAOs at least once every five years to verify compliance with regulatory requirements

Mandates that PBMs and PSAOs pay all costs associated with examinations, including expenses of the director, examiners, and assistants

Allows the director to institute civil action to recover examination expenses from entities that refuse or fail to pay

Information obtained during examinations remains proprietary, confidential, and exempt from the South Carolina Freedom of Information Act