HB4761

Illinois HB4761 regulates pharmacy benefit managers, ensuring fair drug pricing and transparency in contracts.

HB4761 amends the Illinois Insurance Code to regulate pharmacy benefit managers (PBMs). It mandates that PBMs must not reimburse pharmacies for drugs at less than the national average drug acquisition cost. PBMs must also provide transparency in their contracts, including full disclosure of rebates and fees. The bill prohibits PBMs from limiting pharmacists' ability to disclose cost-sharing information and alternative drug options. It also restricts PBMs from steering patients to specific pharmacies and from retaliating against pharmacists for disclosures.