On Nov. 1, IDA INS issued bulletin re pharmacy benefit managers.
IDA INS issued Bulletin 24-05, guidance relating to pharmacy benefit managers (PBM).
Guidance PBMS, including health insurers who perform PBM activities, re requirements of H596a, changes to Idaho Code IDA LEG 41-349, effective Jan. 1, 2025, #207386.
Health insurers performing the activities of a PBM must also be registered as a PBM.
Guidance
Bulletin lists expectations and seeks to provide clarifying data to support compliance.
Requirements apply to the PBM’s administration of prescription drug benefits to residents and contracts with IDA pharmacies and pharmacy benefit plans/programs.
PBMs are required to report certain requirements, including pharmacy plans and costs, or face administrative action, including penalties per Idaho Code IDA INS 41-349.
