PBM Regulation Remains High on Lawmakers' Agendas

The National Council of Insurance Legislators is moving closer to finalizing a model law that would make it easier for states to increase regulation of pharmacy benefit managers. Under the model act, PBMs would be required to register with the insurance commissioner in states where they operate. The insurance commissioner would issue rules regarding licensing, financial standards and reporting requirements for the PBMs. “My objective is for PBMs to have a referee,” Arkansas state Sen. Jason Rapert, a Republican who is also NCOIL president, said Thursday during a conference c...