Establishes duties for pharmacy benefit managers in Massachusetts, including transparency and conflict of interest disclosure.

This bill creates a new chapter in Massachusetts law, establishing duties for pharmacy benefit managers. These duties include performing services with care, skill, prudence, diligence, fairness, transparency, and professionalism. Pharmacy benefit managers must provide transparency to enrollees, health benefit plans, and providers regarding amounts charged or claimed, and disclose all conflicts of interest. The commissioner of insurance will adopt regulations to define the scope of these duties.

Establishes duties for pharmacy benefit managers in Massachusetts, including transparency and conflict of interest disclosure.

This bill creates a new chapter in Massachusetts law, establishing duties for pharmacy benefit managers. These duties include performing services with care, skill, prudence, diligence, fairness, transparency, and professionalism. Pharmacy benefit managers must provide transparency to enrollees, health benefit plans, and providers regarding amounts charged or claimed, and disclose all conflicts of interest. The commissioner of insurance will adopt regulations to define the scope of these duties.