New Jersey A4238 mandates regular reviews of the pharmacy benefits manager contracts for SHBP and SEHBP.

New Jersey A4238 requires the Department of the Treasury to regularly review the contract and performance of the pharmacy benefits manager for the State Health Benefits Program and the School Employees’ Health Benefits Program. The review must consider cost-effectiveness, operational and financial objectives, and annual net savings. The Division of Pensions and Benefits must publish a report summarizing the review results online 30 days after the review concludes. This process begins in the calendar year of the bill’s effective date and continues every five years.

New Jersey A4238 mandates regular reviews of the pharmacy benefits manager contracts for SHBP and SEHBP.

New Jersey A4238 requires the Department of the Treasury to regularly review the contract and performance of the pharmacy benefits manager for the State Health Benefits Program and the School Employees’ Health Benefits Program. The review must consider cost-effectiveness, operational and financial objectives, and annual net savings. The Division of Pensions and Benefits must publish a report summarizing the review results online 30 days after the review concludes. This process begins in the calendar year of the bill’s effective date and continues every five years.