PRESCRIPTION DRUG PATIENT PROTECTION ACT: Requires pharmacy benefits managers to obtain, in accordance with the bill’s provisions, a certificate of authority from the Commissioner of Banking and Insurance in order to operate in this State. In addition to providing basic ownership and contact information, the Division of Banking and Insurance (DOBI) will require PBMs to submit information in order to get a Certificate of Authority (C of A) before they are able to provide PBM services.

Note: The New Jersey Senate substituted and passed the identical companion bill A 4676, which was enacted in 2018.