LEGISLATIVE SERVICES AGENCY
OFFICE OF FISCAL AND MANAGEMENT ANALYSIS
FISCAL IMPACT STATEMENT
LS 6336 NOTE PREPARED: Feb 17, 2025
BILL NUMBER: SB 3 BILL AMENDED: Jan 29, 2025
SUBJECT: Fiduciary Duty in Health Plan Administration.
FIRST AUTHOR: Sen. Busch BILL STATUS: As Passed Senate
FIRST SPONSOR: Rep. Carbaugh
FUNDS AFFECTED: GENERAL IMPACT: No Fiscal Impact
DEDICATED
FEDERAL
Summary of Legislation: This bill provides that a third party administrator, pharmacy benefit manager,
employee benefit consultant, or insurance producer acting on behalf of a plan sponsor owes a fiduciary duty
to the plan sponsor.
Effective Date: July 1, 2025.
Explanation of State Expenditures:
Explanation of State Revenues:
Explanation of Local Expenditures:
Explanation of Local Revenues:
State Agencies Affected:
Local Agencies Affected:
Information Sources:
Fiscal Analyst: Jason Barrett, 317-232-9809.
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