Bill > H4793

This bill amends two sections of South Carolina law related to examinations of pharmacy benefits managers (PBMs) and pharmacy services administrative organizations (PSAOs), specifying that such examinations must be conducted in accordance with Chapter 13 of Title 38. Under the revised law, the director may examine or audit the books and records of these organizations at least once every five years to ensure compliance, with the organizations responsible for paying all associated examination expenses. If a PBM or PSAO refuses to pay these expenses, the director must initiate a civil action to recover them. The bill also maintains the confidential nature of information gathered during these examinations, explicitly stating that such data is proprietary and not subject to the South Carolina Freedom of Information Act. These changes are designed to provide clearer guidelines and oversight for PBMs and PSAOs in their prescription drug and benefit services, ensuring transparency and accountability while protecting sensitive business information. The bill will take effect upon approval by the Governor.

Business and Industry

https://www.scstatehouse.gov/billsearch.php?billnumbers=4793&session=126&summary=B