PHARMACY BENEFIT MANAGER FEES

SB 62 restricts pharmacy benefit managers (PBMs) to charging only flat, fair-market-value service fees directly tied to their services, banning other fees or financial conflicts. It defines "bona fide service fees" as simple dollar amounts consistent with market value, prohibiting PBMs from earning extra revenue through pharmacy ownership or other arrangements that create conflicts of interest. This directly affects PBMs and pharmacies, as it limits how PBMs can charge for services and requires transparency in fee structures. The bill also classifies violations as unfair or deceptive trade practices under state law, strengthening oversight of PBM billing.