Arkansas
Arkansas Legislative Council to fine pharmacy benefit managers
LITTLE ROCK, Ark. (KAIT/KARK) – In an emergency ruling, Arkansas lawmakers have moved to fine pharmacy benefit managers following a months-long debate.
According to our content partner KARK, some people are saying PBMS are hurting Arkansas’ independent pharmacies.
PBMs are third-party companies that oversee prescription drug benefits for health insurance companies, employers, and other payers, serving as intermediaries between insurance companies and pharmaceutical manufacturers to determine prices for prescription medications.
On Thursday, the Arkansas Legislative Council Executive Subcommittee signed off on the rule which would impact PBMs immediately.
The recent ruling will allow the Arkansas Insurance Department to fine PBMs up to $5,000 for every violation of payments below the national average drug acquisition cost scale.
For more information, you can visit KARK’s website.
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