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California Enacts New Rules for Pharmacy Benefit Managers
Keenan & Associates 
[Guidance Overview] Oct. 16, 2025 "Beginning on January 1, 2026, PBMs will not be able to include spread pricing terms in their contracts.... The new law provides that PBMs have a fiduciary duty to both self-insured employer plan, and health insurance carrier clients ... [T]he law provides a mechanism for a plan sponsor to obtain quarterly disclosures of rebates and fees received from drug manufacturers, fees and assessments charged to network pharmacies, and payments made to pharmacies, as well as de-identified utilization information for the plan." MORE >> |
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