pharmacies; cost sharing requirement; rebates

SB 1225 requires pharmacy benefit managers (PBMs) and third-party payors to calculate patient cost-sharing (like copays or deductibles) at the point of sale using a price reduced by at least 100% of all rebates received for a prescription drug. This means patients must pay the lowest possible price after all rebates are applied, and PBMs cannot keep any portion of rebates as revenue. The law directly affects patients enrolled in health plans covered by these PBMs, ensuring they benefit fully from negotiated drug discounts. It applies to new or renewed health plans after December 31, 2026.