27-84-3. Pharmacy benefit manager transparency.

(a) Beginning March 1, 2027, and annually thereafter, each pharmacy benefit manager shall

submit a transparency report containing data from the prior calendar year to the health insurance

commissioner. The transparency report shall contain the following information:

(1) The aggregate amount of all rebates that the pharmacy benefit manager received from

all pharmaceutical manufacturers for all health carrier clients and for each health carrier client;

(2) The aggregate administrative fees that the pharmacy benefit manager received from all

manufacturers for all health carrier clients and for each health carrier client;

(3) The aggregate retained rebates that the pharmacy benefit manager received from all

pharmaceutical manufacturers and did not pass through to health carriers;

(4) The aggregate retained rebate percentage as defined in § 27-84-2;

(5) The highest, lowest, and mean aggregate retained rebate percentage for all health carrier

clients and for each health carrier client; and

(6) A response to a set of standard questions developed by the health insurance

commissioner regarding business practices including, but not limited to, rebate pass through

practices, spread pricing, pharmacy network development, and utilization management.