New Hampshire SB547 aims to regulate pharmacy benefit manager practices for transparency and competition.

New Hampshire SB547 seeks to enhance regulation and transparency of pharmacy benefit manager practices. The bill mandates that pharmacy benefit managers submit quarterly reports to the commissioner, detailing rebates collected and other financial information. It also establishes a fiduciary duty for pharmacy benefit managers to health carrier clients, prohibiting them from retaining any portion of spread pricing. The commissioner is required to publish an annual transparency report on the insurance department’s website, promoting transparency and competitive markets.

New Hampshire SB547 aims to regulate pharmacy benefit manager practices for transparency and competition.

New Hampshire SB547 seeks to enhance regulation and transparency of pharmacy benefit manager practices. The bill mandates that pharmacy benefit managers submit quarterly reports to the commissioner, detailing rebates collected and other financial information. It also establishes a fiduciary duty for pharmacy benefit managers to health carrier clients, prohibiting them from retaining any portion of spread pricing. The commissioner is required to publish an annual transparency report on the insurance department’s website, promoting transparency and competitive markets.