Governor Phil Murphy (D) signed into law A-1259 / S-249 which requires pharmacy benefits managers providing services within the Medicaid program to disclose certain information to the Department of Human Services. Program to require the pharmacy benefits manager to disclose to the department: (1) all sources and amounts of income, payments, and financial benefits received by the pharmacy benefits manager in relation to the provision and administration of pharmacy benefits management services on behalf of the managed care organization, including, but not limited to, any pricing discounts, rebates of any kind, inflationary payments, credits, clawbacks, fees, grants, chargebacks, reimbursements, or other benefits; (2) all ingredient costs and dispensing fees or similar payments made by the pharmacy benefits manager to any pharmacy in connection with the contract or other arrangement; and (3) the pharmacy benefits manager’s payment model for administrative fees. Information reported by pharmacy benefits managers under the bill will be confidential and will not be subject to disclosure under the “Open Public Records Act.”
This law goes into effect immediately.
For more information, please contact NACDS’ Ben Pearlman at 617-515-2603.