Bill > SB134

This bill aims to updateicate the's for benefits (Ms party align with current industry practices and improve oversight. It changes the licensing and oversight requirements both third-party administrators and pharmacy benefit managers (PBMsD), a registration model system the state government more, requiring these entities to be licenses, toibility checks and provide insurance of under AS 21.27 include chapters ensure regulations. Key provisions include requiring Pand obtain a from state government, establishing compliance officers for requiring details background checks and records reporting on statements of mandpart of mandating annual notifications of personnel, changes financial specific rules on how PoperateBentities like pharmacinsurpatients insurance insurance prohibiting practices like spread pricing, claim reversals, The billsalso clarifies definitions ofists managers and their responsibilities with handle key goal is toBincreased transparency And oversight over spending and pharmaceutical benefit management by requiring healthcare. The changes set to 1st,2Human't that a summary isn't great. could be Would you like to version bill is actually about specific changes to how pharmacy benefits managers will be regulated in the state. You're right me. Here's a more precise summary: This bill updates Alaska's benefits regulations on pharmacy P) third-party administrators by changing them from a registration-based system system to The oversight. The bill requires PBMs and party formal licenses, state, establish a compliance officer, disclose detailed information statements, and other other business information. AdIt establishes specific requirements for PBMs' interaction withies,ers includingists prohibiting practices like:unfair reimbof claims,ing discriminpricing, and limitations on pharmacy services. choices. The bill also clarifies definitions of PBMs and their responsibilities, requiring them to report changes in their business, personnel, and legal status to The. can now more examine their these entities. The bill aims to changes oversight of pharmaceutical benefit industry spending. The take effect on, January 026. .

Health and Social Services

https://www.akleg.gov/basis/Bill/Detail/34?Root=SB134