Rhode Island H8579 mandates pharmacy benefit managers to obtain a certificate of authority from the Department of Business Regulation and be overseen.
Rhode Island H8579 establishes a regulatory framework for pharmacy benefit managers (PBMs) operating within the state. The bill requires PBMs to apply for a certificate of authority from the Department of Business Regulation to legally operate in Rhode Island. It empowers the health insurance commissioner to oversee PBMs and enforce compliance with state laws. The commissioner can penalize violations, including suspending or revoking certificates of authority.
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