New Jersey A4657 mandates pharmacy benefits managers to disclose specific information to health benefits plan sponsors.

New Jersey A4657 requires pharmacy benefits managers to submit reports to health benefits plan sponsors and the state department at least every six months. These reports must be in plain language and a machine-readable format. The reports should include details such as the total gross spending on drugs, the net spending after rebates, and the amount received in rebates from applicable entities. Additionally, the bill mandates that pharmacy benefits managers provide a summary document to plan sponsors, containing useful information for selecting pharmacy benefit management services.

New Jersey A4657 mandates pharmacy benefits managers to disclose specific information to health benefits plan sponsors.

New Jersey A4657 requires pharmacy benefits managers to submit reports to health benefits plan sponsors and the state department at least every six months. These reports must be in plain language and a machine-readable format. The reports should include details such as the total gross spending on drugs, the net spending after rebates, and the amount received in rebates from applicable entities. Additionally, the bill mandates that pharmacy benefits managers provide a summary document to plan sponsors, containing useful information for selecting pharmacy benefit management services.