Bill > SB142

This bill establishes new regulations for municipal and state group health insurance plans and their pharmacy benefits managers (PBMs) by requiring them to comply with specific state insurance laws, with a few key exceptions. The legislation applies to both home rule and general law municipalities, mandating that their health insurance plans and PBMs adhere to certain administrative and management requirements under Alaska Statutes 21.27.901 - 21.27.975 and 21.36.520, which likely involve transparency, cost control, and consumer protection measures. Importantly, the bill does not apply to health insurance plans already governed by the federal Employee Retirement Income Security Act (ERISA), which provides protection for employees' benefit plans. The changes affect both fully insured and self-insured plans offered by municipalities and the state for their employees, and require PBMs to follow specific guidelines in managing pharmacy benefits. The bill will take effect on January 1, 2026, giving government entities and insurance providers time to prepare for and implement these new requirements. By standardizing oversight and management of health insurance and pharmacy benefits, the legislation aims to potentially improve cost-effectiveness, transparency, and overall quality of health coverage for municipal and state employees.

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https://www.akleg.gov/basis/Bill/Detail/34?Root=SB142