New Jersey S1047 regulates pharmacy benefits managers and health insurance carriers by prohibiting steering practices and imposing reporting.
New Jersey S1047 aims to regulate certain practices of pharmacy benefits managers and health insurance carriers. It prohibits pharmacy benefits managers from steering prescriptions to affiliated pharmacies, imposing point-of-sale fees, or retroactively charging fees. The bill also mandates that pharmacy benefits managers issue quarterly reports on drug reimbursements and submit data to the commissioner for evaluation of steering practices. Additionally, it requires pharmacy benefits managers to report annually on rebates received from pharmaceutical manufacturers.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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