Bill > SB316

This bill revises provisions related to insurance, with a primary focus on pharmacy benefit managers (PBMs) and prescription drug pricing. Key provisions include requiring health insurers and PBMs to prepare detailed annual reports on prescription drug costs, expanding regulatory oversight, and implementing new transparency requirements. The bill prohibits PBMs from engaging in certain anti-competitive practices, such as steering patients to affiliated pharmacies or discriminating against non-affiliated pharmacies. It mandates that cost-sharing obligations for prescription drugs be calculated based on the net price paid by insurers, including rebates, and requires these calculations to be made at the point of sale. The bill also imposes new fiduciary duties on PBMs, requires them to disclose fee structures and drug formulary information, and establishes civil and criminal penalties for violations. Additionally, the bill includes provisions for confidential reporting to the Commissioner of Insurance and requires biennial reports to the Legislature on the impact of prescription drug costs and PBM practices. Most provisions will become effective on January 1, 2026, giving insurers and PBMs time to adapt to the new requirements.

Budget and Finance, Business and Industry

https://www.leg.state.nv.us/App/NELIS/REL/83rd2025/Bill/12545/Overview