Bill > SB731

This bill amends the Insurance Company Law of 1921 to provide for the calculation of cost-sharing requirements in health insurance policies. Specifically, it requires insurers and pharmacy benefit managers (PBMs) to include any cost-sharing amounts paid by the insured or on behalf of the insured by another person when calculating an insured's contribution to applicable cost-sharing requirements. The bill defines key terms such as "cost sharing," "covered entity," "health insurance policy," and "pharmacy benefits manager." The bill's provisions apply to health insurance policies issued, entered into, or renewed on or after the effective date of the section.