HB149

What it does

• Requires pharmacy benefits managers and third-party administrators to be licensed under specific sections of Alaskan law instead of just being registered.
• Allows the director of insurance to examine the affairs, transactions, accounts, records, and assets of these companies as often as considered advisable or when an investigation is necessary.
• Permits state officials to conduct examinations in participation with the National Association of Insurance Commissioners.
• Requires examined third-party administrators and pharmacy benefits managers to pay for examination time and expenses unless the director waives fees due to financial hardship.