SC H4796

Requires compliance examinations of pharmacy services administrative organizations (PSAOs) by the Department of Insurance to follow the general examination requirements of Chapter 13, Title 38

Requires compliance examinations of pharmacy benefits managers (PBMs) by the Department of Insurance to follow the general examination requirements of Chapter 13, Title 38

Maintains existing requirement that the Director of Insurance may examine or audit books and records of PSAOs and PBMs at least once every five years

Preserves existing provisions that examined entities must pay examination costs and that information obtained during examinations remains confidential and exempt from the Freedom of Information Act

Takes effect upon Governor's approval