Rhode Island S3060 mandates pharmacy benefit managers to apply for a certificate of authority from the Office of Health Insurance Commissioner to.

Rhode Island S3060 requires pharmacy benefit managers to apply for a certificate of authority from the Office of Health Insurance Commissioner to operate in the state. The commissioner is empowered to oversee these managers and penalize violations. The bill outlines specific grounds for suspension or revocation of the certificate of authority, including violations of laws, deceptive practices, and failure to report administrative actions taken against the manager. It also mandates reporting requirements, including annual submissions of detailed financial and operational information.

Rhode Island S3060 mandates pharmacy benefit managers to apply for a certificate of authority from the Office of Health Insurance Commissioner to.

Rhode Island S3060 requires pharmacy benefit managers to apply for a certificate of authority from the Office of Health Insurance Commissioner to operate in the state. The commissioner is empowered to oversee these managers and penalize violations. The bill outlines specific grounds for suspension or revocation of the certificate of authority, including violations of laws, deceptive practices, and failure to report administrative actions taken against the manager. It also mandates reporting requirements, including annual submissions of detailed financial and operational information.