New Jersey would audit drugmaker payments to companies managing prescription benefits

The Department of Banking and Insurance would audit drugmakers’ payments and other financial benefits to pharmacy benefit managers and their affiliated companies. Reviews would cover direct and indirect benefits tied to health plan use or enrollment, including rebates, discounts, and fees. Auditors would also examine purchasing groups’ role in negotiating payments. Audited managers would pay audit costs and provide requested records within 30 days of notice. Late records would trigger fines of $1,000–$10,000 per day. The commissioner would choose the number of audits each year and each review period, which could cover no more than one calendar year. The requirements would start on the first day of the fourth month following enactment. The commissioner could take steps to prepare beforehand.