Alaska Statutes: AS 21.27.901. Registration of Pharmacy Benefits Managers; Scope of Business Practice.

Alaska Statutes. Title 21. Insurance Chapter 27. Producers, Agents, Administrators, Brokers, Adjusters, and Managers Section 901. Registration of Pharmacy Benefits Managers; Scope of Business Practice.

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AS 21.27.901. Registration of Pharmacy Benefits Managers; Scope of Business Practice.

   (a) A person may not conduct business in the state as a pharmacy benefits manager unless the person is registered with the director as a third-party administrator under AS 21.27.630.
   (b) A pharmacy benefits manager registered under AS 21.27.630 may
        (1) contract with an insurer to administer or manage pharmacy benefits provided by an insurer for a covered person, including claims processing services for and audits of payments for prescription drugs and medical devices and supplies;
        (2) contract with network pharmacies;
        (3) set the cost of multi-source generic drugs under AS 21.27.945; and
        (4) adjudicate appeals related to multi-source generic drug reimbursement.

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