Revises provisions relating to the administration of pharmacy benefits under Medicaid and certain other health plans.

AN ACT relating to prescription drugs; requiring the Department of Health and Human Services to select and contract with a state pharmacy benefit manager to manage pharmacy benefits for Medicaid and certain other health benefit plans; requiring the Department to establish certain methodologies for the payment of and rates of reimbursement for prescription drugs under Medicaid; requiring the Department to establish a benchmark to measure certain data relating to the cost of prescription drugs; prescribing certain duties of the state pharmacy benefit manager; requiring that the Department approve certain contracts entered into by the state pharmacy benefit manager; prohibiting the state pharmacy benefit manager from engaging in certain activities; requiring a Medicaid managed care organization to contract with and utilize the state pharmacy benefit manager to manage pharmacy benefits; requiring a Medicaid managed care organization to provide certain information to the Department upon request; and providing other matters properly relating thereto.