RÉSUMÉ DIGEST
ACT 371 (SB 283) 2018 Regular Session Mills
Prior law required pharmacy benefit managers to be licensed by the Dept. of Insurance
(DOI).
New law retains prior law and further requires DOI to have a dedicated location on the
department's website to publish pharmacy benefit manager information, including the
formulary and timely notification of formulary changes by each licensed pharmacy benefit
manager.
New law requires pharmacy benefit managers beginning June 1, 2020, to issue an annual
transparency report that discloses aggregate data on rebates received from drug
manufacturers, administrative fees, and aggregate rebates received that did not pass through
to the health benefit plan or insurer. Further requires DOI to publish the transparency report
within 60 days of receipt from the pharmacy benefit manager.
New law requires that not more than 30 days after an increase in wholesale acquisition cost
of 50% or greater for a drug with a wholesale acquisition cost of $100 or more for a 30-day
supply, a pharmaceutical drug manufacturer is to notify the commissioner of insurance by
electronic mail of the change.
New law provides for an exception to the Public Records Law.
Effective January 1, 2020, except new provisions authorizing the commissioner of insurance
to adopt necessary rules which are effective August 1, 2018.
(Amends R.S. 22:1657 and R.S. 44:4.1(B)(11); adds R.S. 22:1657.1)