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Committee approves bill beefing up insurance department enforcement of pharmacy benefit managers
Summary
SB 544 would add enforcement tools for the Arkansas Insurance Department against PBMs, including probation authority and a penalty mechanism tied to underpayments; pharmacy and insurance stakeholders debated the size and form of the penalty.
The House Insurance and Commerce Committee on Tuesday approved Senate Bill 544, a measure to expand the Arkansas Insurance Department’s enforcement authority over pharmacy benefit managers (PBMs).
State Rep. Jimmy Gazzaway presented the bill with John Benson, chief executive of the Arkansas Pharmacists Association. Gazzaway said the bill would give the insurance commissioner new tools — including probation, stiffer penalty authority and clearer contract‑definition language — to pursue PBMs that…
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