Requires pharmacy benefits managers to make certain disclosures to health benefits plan sponsors.

This New Jersey bill requires pharmacy benefits managers to provide health plan sponsors with detailed financial reports every six months. The legislation mandates that these reports include specific data on drug costs, rebates, and out-of-pocket spending for each prescription filled through different channels like retail or mail order. By demanding this information in plain language and machine-readable formats, the bill aims to increase transparency regarding how much money is exchanged between drug manufacturers, pharmacies, and insurance plans. Ultimately, the law seeks to help plan sponsors better understand the financial details of their pharmacy benefits contracts.