Minnesota Community Pharmacy Patient Access and Fair Reimbursement Act established, and rulemaking required.

This bill establishes the Minnesota Community Pharmacy Patient Access and Fair Reimbursement Act to protect patient access to local pharmacies by ensuring fair payment rates for prescription drugs. It requires pharmacy benefit managers to reimburse community pharmacies based on a formula that combines the National Average Drug Acquisition Cost or Wholesale Acquisition Cost with a professional dispensing fee, setting both minimum and maximum payment limits. The law applies only to commercial health plans and excludes federal programs like Medicare and Medicaid, as well as drugs purchased under the 340B program. By standardizing reimbursement rates, the bill aims to prevent pharmacy closures caused by unfair payment practices while maintaining the state's existing health plan benefit structures.