§ 24-50-1202. Legislative Declaration – Intent

1. The general assembly hereby finds and declares that it is the intent of this act to optimize prescription drug savings by the state by requiring the following:
   1. The adoption of a dynamically competitive reverse auction process for state health plan selection of pharmacy benefit managers;
   2. The electronic review and validation of pharmacy benefit manager claims as the foundation for reconciling pharmacy bills; and
   3. The technology-driven evaluation of incumbent pharmacy benefit manager prescription drug pricing based on benchmark comparators derived from pharmacy benefit manager reverse auction processes conducted in the United States over the previous twelve months.

Source: L. 2021: Entire part added, (HB 21-1237), ch. 217, p. 1144, § 1, effective June 7.