Pharmacy benefit managers and health carriers required to use prescription drug rebates and other compensation to benefit covered persons, and report required.

The bill requires pharmacy benefit managers and health insurance companies to use rebates and other financial compensation from drug manufacturers to benefit patients. This means that any savings from these deals should help lower costs for individuals covered by their plans. Additionally, they must report how these funds are used.

Supporters of the bill argue that it promotes transparency and ensures that patients receive the financial benefits of drug rebates, potentially lowering their out-of-pocket costs. They believe this legislation is a step toward making healthcare more affordable and accessible for everyone.

Critics of the bill may contend that it could lead to increased administrative burdens for pharmacy benefit managers and health carriers, potentially driving up costs in other areas. They might also argue that the bill does not address the root causes of high drug prices and could create unintended consequences in the marketplace.