HI SB1158

Requires pharmacy benefit managers operating in Hawaii to register with the insurance commissioner before acting or operating in the state.

Applies to any pharmacy benefit manager providing claims processing services or other prescription drug services to Hawaii residents.

Registration application requires a $140 nonrefundable fee and must include names and qualifications of responsible individuals, an agent for service of process, and board/executive information.

Annual registration renewal required by March 31 each year with a $140 renewal fee; failure to renew results in a $140 penalty and may cause revocation or suspension of registration.

Persons operating as pharmacy benefit managers without registration are subject to a $500 fine for each violation; effective July 1, 2017.