Another State Posts New Rules on PBM Licensing, Spread Pricing

All pharmacy benefits managers in Virginia will soon have to be licensed, and the Bureau of Insurance is now accepting applications. The bureau announced last week that, in keeping with a state law passed earlier this year, PBMs must submit an application and pay a $250 fee to the bureau. The licensing requirement begins Oct. 1. The agency also encouraged PBMs to study requirements in the law, including restrictions on advertising, claims adjudication fees, reimbursement for service and spread pricing. Virginia is one of the latest states to impose regulations on PBMs and demand more t...