Synopsis
This Amendment: (1) Replaces “retail price” with language requiring that a carrier not impose a copayment or coinsurance requirement that exceeds the lesser of one of the following: (i) the applicable copayment or coinsurance that would apply for the prescription drug in the absence of this section; (ii) the amount an individual would pay for the prescription drug if the individual were paying the usual and customary price; or (iii) the contract price for the prescription drug. (2) Provides a definition of “contract price” in place of the definition of “retail price”. (3) Adds a definition of “pharmacy” based on its use in the definition of “contract price”.