Section 21.27.901 - [Effective 1/1/2025] Registration of pharmacy benefits managers; scope of business practice(a) A person may not conduct business in the state as a pharmacy benefits manager unless the person is registered with the director .(b) A pharmacy benefits manager registered under this section may (1) contract with an insurer to administer or manage pharmacy benefits provided by an insurer for a covered person, including claims processing services for and audits of payments for prescription drugs and medical devices and supplies; and(2) contract with network pharmacies .
(c) A pharmacy benefits manager(1) shall apply for registration following the same procedures for licensure set out in AS 21.27.040;(2) is subject to hearings and orders on violations; denial, nonrenewal, suspension, or revocation of registration; penalties; and surrender of registration under the procedures set out in AS 21.27.405 - 21.27.460.Amended by SLA 2024, ch. 61,sec. 3, eff. 1/1/2025, app. to an insurance policy or contract, including a contract between a pharmacy benefits manager and a pharmacy or pharmacist, issued, delivered, entered into, renewed, or amended on or after 1/1/2025.Amended by SLA 2024, ch. 61,sec. 2, eff. 1/1/2025, app. an insurance policy or contract, including a contract between a pharmacy benefits manager and a pharmacy or pharmacist, issued, delivered, entered into, renewed, or amended on or after 1/1/2025.Added by SLA 2018, ch. 100,sec. 5, eff. 7/1/2019. See SLA 2018, ch. 100, sec. 6.This section is set out more than once due to postponed, multiple, or conflicting amendments.