§1867. Prohibition on spread pricing; notice exception
A. A pharmacy benefit manager is prohibited from conducting or participating in
spread pricing in this state unless the pharmacy benefit manager provides written notice as
provided in Subsection B of this Section.
B. The notice issued by a pharmacy benefit manager, or a health insurance issuer
where the health insurance issuer has agreed to issue the notice, that utilizes spread pricing
shall be:
(1) Required for each health insurance issuer or plan provider in which the pharmacy
benefit manager engaged or participated in spread pricing.
(2) Delivered to the policy holder.
(3) Provided at least biannually.
(4) Indicative of the aggregate amount of spread pricing charged by the pharmacy
benefit manager during the period.
(5) Written in plain, simple, and understandable English.
C. Any violation of this Section that is committed or performed with such frequency
as to indicate a general business practice shall be subject to the provisions of the Unfair
Trade Practices and Consumer Protection Law, R.S. 51:1401 et seq., as provided in R.S.
40:2870(B).
Acts 2019, No. 124, §1, eff. July 1, 2020.