INS-PHARMACY BENEFIT MANAGERS

Amends the Illinois Insurance Code. In provisions concerning pharmacy benefit manager contracts, provides that if a retail price is to be used by a pharmacy benefit manager to calculate or estimate a copayment for a drug, the pharmacy must either report the retail price for the drug and identify any programs available to retail customers of the pharmacy that an individual without prescription drug coverage would be eligible for at the retail pharmacy that could reduce the price of the drug, or reduce the retail price reported to account for the price reductions that would be generally or specifically available to the individual without prescription drug coverage. Changes the definition of "retail price".