SB316 revises insurance provisions, focusing on pharmacy benefit managers and prescription drug costs.

SB316 amends Nevada insurance laws, particularly concerning pharmacy benefit managers and prescription drug costs. It mandates that insurers and pharmacy benefit managers submit reports on drug pricing and rebates to the Commissioner of Insurance. The bill prohibits insurers from imposing cost-sharing obligations exceeding the net amount paid for drugs, including rebates. It also restricts pharmacy benefit managers from certain practices, such as steering patients to affiliated pharmacies or retaliating against nonaffiliated ones.

SB316 revises insurance provisions, focusing on pharmacy benefit managers and prescription drug costs.

SB316 amends Nevada insurance laws, particularly concerning pharmacy benefit managers and prescription drug costs. It mandates that insurers and pharmacy benefit managers submit reports on drug pricing and rebates to the Commissioner of Insurance. The bill prohibits insurers from imposing cost-sharing obligations exceeding the net amount paid for drugs, including rebates. It also restricts pharmacy benefit managers from certain practices, such as steering patients to affiliated pharmacies or retaliating against nonaffiliated ones.