Any health plan that offers pharmacy benefits shall comply with the following:

(a)  When a health plan’s pharmacy benefit has a dollar limit, the insured’s use of such benefit shall be determined based on the health plan’s contracted rate to purchase the drug minus the enrollee’s applicable co-payment for covered drugs. The balance will apply towards the enrollee’s dollars limit.

(b)  When a health plan charges a co-payment for covered prescription drugs that is based on a percent of the drug cost, the health plan shall disclose within the group policy or individual policy benefits description statement whether the co-payment is based on the plan’s contracted rate to purchase the drug or some other cost basis such as retail price.