New Jersey S378 mandates that pharmacy benefits managers have a fiduciary duty to the financial interests of covered persons.
New Jersey S378 amends existing law to ensure that pharmacy benefits managers have a fiduciary duty to the financial interests of covered persons. This means that pharmacy benefits managers must prioritize the financial interests of covered persons above those of the health insurance carrier with which they contract. The bill also requires carriers to monitor pharmacy benefits managers and ensure they act in good faith and fair dealing. The changes apply to all contracts and policies delivered, issued, executed, or renewed after the bill's effective date.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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