AN ACT REGULATING REBATES BY PHARMACY BENEFITS MANAGERS.

This bill requires pharmacy benefits managers (PBMs) to calculate patient copays or deductibles at the point of sale based on the net price of prescription drugs (after rebates from drug manufacturers), not the original list price. It directly affects patients, pharmacies, and PBMs by changing how out-of-pocket costs are determined for prescriptions. PBMs must also certify compliance with this rule to the state Insurance Department. The law aims to ensure patients pay based on the actual drug cost after rebates, rather than inflated list prices.