Bill > S1476

This bill authorizes the Office of Insurance Regulation to examine pharmacy benefit managers (PBMs), which are entities that manage prescription drug benefits on behalf of health insurers and health maintenance organizations (HMOs). It also imposes a $10,000 penalty for failure to register as a PBM. The bill revises the entities conducting pharmacy audits and the requirements and restrictions that apply to those audits, such as notification periods, audit duration, use of pharmacist consultants, and reimbursement for clerical errors. Additionally, it holds health insurers and HMOs responsible for violations by PBMs to whom they have transferred payment obligations. The bill takes effect on July 1, 2022.

Budget and Finance, Business and Industry

https://www.flsenate.gov/Session/Bill/2022/1476