Official Summary

Digest: Says that if a person that takes claims from drug stores for payment under a health plan signs a contract with another person that acts for the drug stores, the person must still obey the laws that govern pharmacy benefit managers. Says that the person that acts for or signs contracts for the drug stores must get a license to do that business. (Flesch Readability Score: 62.0). Includes pharmacy services administrative organizations within the definition of pharmacies for the purpose of ensuring that pharmacy benefit managers are subject to laws regulating their activities even if their contracts are with pharmacy services administrative organizations. Requires pharmacy services administrative organizations to register with the Department of Consumer and Business Services as third party administrators. Specifies exemptions from the registration requirement. Takes effect on the 91st day following adjournment sine die.