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Committee hears support for licensing pharmacy benefit managers; bill set aside for further review
Summary
Senate Bill 134, which would give the Division of Insurance licensure authority over PBMs and third‑party administrators, drew supportive testimony from the Alaska Pharmacist Association; the bill was set aside for future consideration.
Senate Bill 134, a measure to authorize licensing and oversight of pharmacy benefit managers (PBMs) and third‑party administrators, was the second item on the April 3 agenda of the Senate Health and Social Services Committee. The committee opened public testimony and received a supportive statement from Brandy Sidden Martin, deputy director of the Alaska Pharmacy Association, who told members licensing PBMs to the Division of Insurance "gives the state the proper tools" to ensure transparency and enforcement of recent law changes.
Martin said last year’s House Bill 226 represented a step toward transparency, but enforcement requires licensing authority for the Division of Insurance. "Licensing PBMs to the Division of Insurance gives the state the proper tools to do just that," she said, and added that most states already require such licensure.
Committee members closed public testimony on SB134 and set the bill aside for future consideration; the transcript records that staff should notify the committee if amendments are expected. No committee vote or final action on the bill was recorded in the transcript.
