June 26, 2018
On April 10, 2018, Gov. Bevin signed HB 463 into law, which provides that insurers or pharmacy benefit managers can't impose cost-sharing amounts on prescription drugs that are greater than prescription drug prices for participants not using plans or paying cash.
Insurers or pharmacy benefit managers also can't penalize pharmacy providers that provide plan participants with information relating to the applicable limitations on their cost-sharing expenses for prescription drugs.
Although this new law is aimed at insurers and pharmacy benefit managers, it’s important for employers to be aware of what insurers and pharmacy benefit managers may be doing and what they’re now required to do.
This law is effective for insurers (and pharmacy benefit managers) issuing or renewing health benefit plans on or after Jan. 1, 2019.
HB 463 »