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Pharmacy benefit managers (PBMs) should consider the
implications of a model law making its way through the National
Association of Insurance Commissioners (NAIC) that would establish
a licensure requirement and rules of conduct for these participants
in the health care marketplace. A number of states have already
adopted their own PBM laws, and an NAIC model would be likely to
motivate others to do so.
On April 12, 2021, the NAIC s Health Insurance and Managed
Care Committee, meeting by videoconference at the NAIC s Spring
National Meeting, briefly discussed the PBM Model Act, agreeing to
New York Regulator to Collect, Publish Insurer Diversity Data to Promote Transparency insurancejournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insurancejournal.com Daily Mail and Mail on Sunday newspapers.
Monday, March 8, 2021
In the fall of 2019, we reported that Vermont enacted Senate Bill 41, which granted the Commissioner of the Vermont Department of Financial Regulation (the “Department”) jurisdiction over entities that administer one or more health reimbursement arrangements (“HRAs”), health savings accounts (“HSAs”), and flexible spending accounts (“FSAs”). Senate Bill 41 directed the Department to adopt rules regulating entities that administer HRAs, HSAs, and FSAs.
In response to Senate Bill 41, the Department recently issued proposed Regulation 1-2021-01 (the “Regulation”) entitled “The Third Party Administrator Rule,” which sets forth licensing and regulatory requirements for TPAs operating in Vermont. Many of the provisions in the Regulation are similar to provisions in the NAIC’s Model Third Party Administrator Act (the “Model Act”).
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We summarized Virginia’s Consumer Data Protection Act (CDPA) in advance of its passage by the legislature and it now awaits Governor Ralph Northam’s signature. This will make Virginia .