AK SB142

Requires municipal group health insurance plans and their pharmacy benefits managers to comply with state regulations under AS 21.27.901-21.27.975 and AS 21.36.520, applying to both home rule and general law municipalities

Extends the same pharmacy benefits manager regulatory requirements to state employee group health insurance plans, including self-insured plans administered by the Department of Administration

Applies regulations to group health insurance covering employees of governmental units participating in the state insurance program

Exempts health insurance plans subject to ERISA (Employee Retirement Income Security Act of 1974, 29 U.S.C. 1001-1191) from these requirements

Takes effect January 1, 2026