Increases penalties for violations by insurers, pharmacy benefits managers, and health maintenance organizations in South Carolina.

The bill amends South Carolina law to increase penalties for violations by insurers, pharmacy benefits managers, and health maintenance organizations. It raises the maximum fine for willful violations from fifteen thousand dollars to thirty-two hundred fifty thousand dollars. The bill also revises the license application and renewal fees for pharmacy benefits managers, setting the initial application fee at one hundred twenty-five thousand dollars and the annual renewal fee at five hundred ten thousand dollars.

Increases penalties for violations by insurers, pharmacy benefits managers, and health maintenance organizations in South Carolina.

The bill amends South Carolina law to increase penalties for violations by insurers, pharmacy benefits managers, and health maintenance organizations. It raises the maximum fine for willful violations from fifteen thousand dollars to thirty-two hundred fifty thousand dollars. The bill also revises the license application and renewal fees for pharmacy benefits managers, setting the initial application fee at one hundred twenty-five thousand dollars and the annual renewal fee at five hundred ten thousand dollars.