HB1481

House Bill 1481, titled the 'Healthcare Insurer Share the Savings Act' and the 'Arkansas Pharmacy Benefits Manager Share the Savings Act,' mandates that healthcare insurers and pharmacy benefits managers (PBMs) pass along negotiated prescription drug rebates to enrollees. The bill requires that an enrollee’s point-of-sale cost sharing, such as deductibles or coinsurance, be reduced by at least 100% of the rebates received for that specific drug. The legislation provides strict confidentiality protections for rebate data, classifying it as a trade secret and exempting it from disclosure under the Freedom of Information Act. It requires PBMs to submit an annual certification to the Insurance Commissioner confirming compliance with these requirements. The bill excludes certain specific insurance plans, such as state and local government employee plans and workers' compensation coverage, from these requirements. It also includes a severability clause to ensure that the invalidation of any single provision does not affect the remainder of the act.