Creates provisions relating to payments for prescription drugs

HB 474 protects patients' ability to choose any pharmacy for prescription drugs by banning pharmacy benefits managers (PBMs) from restricting this choice or penalizing patients for using a preferred pharmacy. The bill requires PBMs to limit patient out-of-pocket costs to the lower of their health plan copayment, the cash price, or the actual drug cost minus rebates. It also mandates PBMs to disclose conflicts of interest and prohibits them from charging pharmacies fees for claim processing or reducing payments after claims are adjudicated. This law directly affects patients, pharmacists, PBMs, and health benefit plans by clarifying cost-sharing rules and enhancing transparency in prescription drug coverage.