HB5917: INS CD-PHARMA BENEFIT MANAGER

Legislative Summary

Amends the Pharmacy Benefit Manager Article of the Illinois Insurance Code. Provides that, on or before July 1 of each calendar year, each pharmacy benefit manager registered in this State must submit a report to the Director of Insurance detailing specified information concerning pricing discounts, rebates, or other financial incentives received by the pharmacy benefit manager during the previous calendar year; the terms and conditions of any contract between the pharmacy benefit manager and any party related to providing pharmacy benefit manager services to a health plan; and any activity, policy, practice, contract, or arrangement of the pharmacy benefit manager that may directly or indirectly present a conflict of interest. Provides that the Director may, at the Director's discretion, require additional quarterly reports. Sets forth provisions concerning confidentiality and rulemaking. Effective January 1, 2026.