Pharmacy benefit managers and health carriers required to include lower-cost drugs in their formularies, and formulary structure and formulary tiering for each health plan required to give preference to the drug with the lowest out-of-pocket cost to the patient.

The bill requires pharmacy benefit managers and health insurance companies to include lower-cost medications in their lists of covered drugs. It also mandates that these companies prioritize drugs that have the lowest out-of-pocket costs for patients when creating their formulary structure and tiering for health plans.

Supporters of the bill would highlight that it aims to reduce prescription drug costs for patients by ensuring that more affordable options are available and prioritized. They would argue that this legislation promotes transparency and encourages the use of cost-effective medications, ultimately benefiting consumers and improving access to necessary treatments.

Critics of the bill might argue that it could limit the availability of certain drugs or create complications in the formulary process, potentially leading to confusion for patients. They may also express concerns that prioritizing lower-cost drugs could undermine the quality of care or restrict physicians' ability to prescribe the best treatments for their patients.