92nd General Assembly
Summary of HB5930
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House Sponsors:

Short description: 
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

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   1     SENATE -   0


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