New Jersey S3573 regulates pharmacy benefits managers and health insurance carriers by prohibiting steering practices and imposing surcharges.

New Jersey S3573 regulates certain practices of pharmacy benefits managers and health insurance carriers. The bill prohibits steering, which involves directing prescriptions to affiliated pharmacies. It also bans practices such as withholding coverage for lower-cost drugs and charging excessive copayments. Pharmacy benefits managers must report annually on steering practices and submit data to the commissioner. The bill imposes a 10% surcharge on pharmacy benefits managers engaging in steering or imposing fees.

New Jersey S3573 regulates pharmacy benefits managers and health insurance carriers by prohibiting steering practices and imposing surcharges.

New Jersey S3573 regulates certain practices of pharmacy benefits managers and health insurance carriers. The bill prohibits steering, which involves directing prescriptions to affiliated pharmacies. It also bans practices such as withholding coverage for lower-cost drugs and charging excessive copayments. Pharmacy benefits managers must report annually on steering practices and submit data to the commissioner. The bill imposes a 10% surcharge on pharmacy benefits managers engaging in steering or imposing fees.