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Insurance department asks to standardize PBM licensing terminology; pharmacists and insurers urge broader review
Summary
House Bill 1087 would replace older references to a PBM 'certificate of registration' with a 'license.' The Insurance Department said the change is clarifying; pharmacists and insurers urged the committee to consider broader reforms to Chapter 26.1 related to pharmacy benefit managers before acting.
Janelle Mittelstaedt, division director with the North Dakota Insurance Department, told members the department supports House Bill 1087 because it replaces the antiquated phrase “certificate of authority/registration” with the common statutory term “license” for administrators and pharmacy benefit managers (PBMs). She described the change as a technical update to align producer and company licensing language.
Mike Schwab, represe…
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