HB 2221 -- Pharmacy Benefit Management

Co-Sponsors:  Naeger, Hendrickson, Henderson

This bill creates the Pharmacy Benefit Management Regulation Act.
The bill:

(1)  Defines a pharmacy benefit management company and a pharmacy
benefit management plan;

(2)  Prohibits any person or organization from operating a
pharmacy benefit management company without first obtaining a
certificate of authority from the State Board of Pharmacy;

(3)  Gives the board the authority to deny, suspend, or revoke
certificates for reasons defined by the bill;

(4)  Requires all companies to file a statement annually
containing a financial statement, findings of any audits, number
of employees, and any other information relating to the
operations of the company;

(5)  Allows the board to collect an annual assessment to offset
costs incurred for the regulation, supervision, and examination
of all certified companies.  All fees will be deposited into a
special fund;

(6)  Requires all companies contracting with pharmacies and
pharmacists for services to file the contract with the board at
least 30 days prior to the execution of the contract.  All
contracts will be deemed approved unless formally disapproved by
the board;

(7)  Requires the board to develop formal investigation and
compliance procedures;

(8)  Prohibits any company from using any descriptive wording in
its title, unless duly licensed to do so;

(9)  Requires disclosure of certain information to enrollees;

(10)  Contains provisions regarding privacy and confidentiality
for enrollees; and

(11)  Makes any company becoming insolvent liable for assessment
payments for the period in which it operated in Missouri.

Missouri House of Representatives
Last Updated October 11, 2002 at 9:03 am