Creates provisions relating to payments for prescription drugs

HB 840 protects patients' choice of pharmacy by prohibiting pharmacy benefits managers (PBMs) from restricting where insured individuals can fill prescriptions. It requires PBMs to allow patients to obtain prescription services, consultations, or advice from any contracted pharmacy without penalty, and limits patient out-of-pocket costs to the lower of their copay, cash price, or the pharmacy’s reimbursement amount. The bill also bans PBMs from charging hidden fees for claim processing, mandates disclosure of conflicts of interest, and defines key terms like "generic drug" and "rebate" for consistency. It directly affects patients with insurance (referred to as "covered persons"), pharmacies, PBMs, and health benefit plans, while excluding Medicare Part D and self-funded employer plans.