§ 40:2864 — Duties of pharmacy benefit managers

§2864. Duties of pharmacy benefit managers
A. A pharmacy benefit manager shall owe the beneficiaries of any pharmacy benefit
management plan administered by the pharmacy benefit manager and to the entities that have
entered into a contract with the pharmacy benefit manager the duties of good faith, honesty,
trust, confidence, and candor.
B. The standard for the fulfillment of a pharmacy benefit manager's duties shall be
to act with a high degree of care, skill, prudence, and diligence required of a reasonable and
prudent person with substantial experience and expertise in the management of pharmacy
benefit management plans and payment of claims.
C. Failure of a pharmacy benefit manager to satisfy the duties established in this
Section shall not create a separate or independent cause of action nor shall it be construed
to prohibit any cause of action established by or recognized in federal or state law.

Legislative History

Acts 2019, No. 124, §3, eff. July 1, 2020.