House Bill 4062 reduces the cost of prescription drugs and requires certain compensation received from a pharmaceutical manufacturer, developer or labeler to be used for benefit of covered persons.
The purpose of this bill is to reduce the cost of prescription drugs by requiring a pharmacy benefit manager to pass through to the consumer certain compensation.
(a) All compensation remitted by or on behalf of a pharmaceutical manufacturer, developer or labeler, directly or indirectly, to a carrier, or to a pharmacy benefits manage under contract with a carrier, related to its prescription drug benefits must be:
(1) Remitted directly to the covered person at the point of sale to reduce the out of pocket cost to the covered person associated with a particular prescription drug; or
(2) Remitted to, and retained by, the carrier, Compensation remitted to the carrier must be applied by the carrier in its plan design and in future plan years to offset the premium for covered persons.
(b) Beginning January 1, 2021, and annually after that, a carrier shall file with the commissioner a report in the manner and form determined by the commissioner demonstrating how the carrier has complied with this section.