PHARMACY BENEFIT MGT REGULAT A
Synopsis of Bill as introduced:
Creates the Pharmacy Benefit Management Regulation Act.
Establishes the standards and criteria for regulation and licensing of
pharmacy benefit management companies. Requires pharmacy benefit
management companies to obtain a license from the Director of
Insurance and to obtain a certificate of authority from the State
Pharmacy Board. Provides for financial examination of those companies.
Grants enforcement powers to the Director of Insurance and the State
Pharmacy Board. Imposes fees and assessments upon pharmacy benefit
management companies. Provides for the fees and assessments to be
deposited into the Pharmacy Benefit Company Regulation Fund, a special
fund in the State treasury. Amends the State Finance Act to add the
Fund to the list of special funds.
HOUSE AMENDMENT NO. 1.
Deletes reference to:
30 ILCS 105/5.570 new
Replaces the title and everything after the enacting clause.
Creates the Pharmacy Benefit Management Regulation Act. Provides only
a short title.
Last action on Bill: SESSION SINE DIE
Last action date: JAN-07-2003
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0
END OF INQUIRY
Full Text Bill Status