This bill aims to further regulate the practice of pharmacy benefits managers (PBMs) in Alabama. PBMs are intermediaries between insurers and pharmacies that manage prescription drug benefits on behalf of health insurance providers. The bill proposes an amendment to several sections of the Alabama Code 1975 in relation to PBMs, with several key caveats: – It prohibits PBMs from reimbursing pharmacies less than the actual drug acquisition cost and from paying less to pharmacies than what is reimbursed by third-party payors (insurance companies or entities that pay medical claims on behalf of patients). – It enables pharmacists to communicate drug prices with individuals covered in the plan. – It prevents PBMs from charging pharmacies certain fees or investigating pharmacists for fraud, waste, or abuse without reasonable suspicion. – It demands that PBMs report rebate amounts to the Commissioner of Insurance and third-party payors. – It allows the examination of PBMs by the Commissioner of Insurance. – It obligates PBMs to pass on 100 percent of rebates received from pharmaceutical manufacturers to third-party payors, and prevents them from penalising the latter for switching PBMs. – It rules that an enquiry into fraud, waste, or abuse by a PBM falls under the Pharmacy Audit Integrity Act.