Relates to the regulation of pharmacy benefit managers; defines terms; updates terminology; prohibits a pharmacy benefit manager from limiting a consumers access to prescription drugs through the designation of specialty drugs; prohibits a pharmacy benefit manager from placing certain requirements or restrictions on a pharmacist or pharmacy; requires pharmacy benefit managers to disclose any sub networks for specialty drugs to the Insurance Commissioner.
(4) A pharmacy benefit manager may not require a pharmacy or pharmacist, as a condition for participating in the pharmacy benefit manager’s network, to obtain or maintain accreditation, certification, or credentialing that is inconsistent with, more stringent than, or in addition to state requirements for licensure or other relevant federal or state standards.