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Idaho Insurance Department reports PBM oversight, high‑risk pool and wildfire insurance stress to budget panel
Summary
The Department of Insurance briefed the Joint Finance-Appropriations Committee on Jan. 21 about PBM oversight, the operation of the state's high‑risk health‑insurance pool and wildfire-related stress in the homeowner insurance market.
The Department of Insurance briefed the Joint Finance-Appropriations Committee on Jan. 21, detailing implementation of pharmacy benefit manager (PBM) reporting, the operation of a health‑insurance high‑risk pool that officials say helped expand carrier participation and lower age‑to‑age rates, and market stress in homeowner insurance linked to wildfires and rising reinsurance costs.
Dean Cameron, director of the Department of Insurance, told the committee the agency is processing PBM data submissions required by last year’s reform (House Bill 596) and has an analyst dedicated to PBM complaints. "She's receiving numerous complaints," Cameron said, saying most PBMs had complied with the required data format while a few remain noncompliant as the department works to collect needed information.
Director Cameron described the state’s high‑risk…
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