Loading chat...
IN HB1588
Bill
Status
5/6/2019
Primary Sponsor
Martin Carbaugh
Click for details
AI Summary
HB1588 - Insurance Matters
-
Pharmacy benefit managers operating in Indiana must update and make available their maximum allowable cost lists to pharmacies at least every 7 days, effective July 1, 2019.
-
Repeals IC 27-6-5 concerning federal reinsurance under the Urban Property Protection and Reinsurance Act of 1968, and repeals IC 27-8-15.5 establishing the small employer insurer voluntary reinsurance program.
-
Exempts flood insurance from the types of Class 3(a) insurance policies required to offer mine subsidence coverage.
-
Urges the legislative council to assign an interim study committee to examine pharmacy benefit manager regulation, including licensure, gag clauses, conflicts of interest, pricing practices, and formulary determination methods, with recommendations due by November 1, 2019.
-
Makes conforming amendments to the Indiana Life and Health Insurance Guaranty Association chapter to remove references to the repealed small employer health reinsurance board.
Legislative Description
Insurance matters. Requires a pharmacy benefit manager doing business in Indiana to, at least every seven days, update and make available to pharmacies maximum allowable cost list information. Repeals the law providing for availability of high risk property coverage under the federal Urban Property Protection and Reinsurance Act of 1968. Exempts flood insurance policies from the kinds of policies under which mine subsidence coverage must be made available. Repeals the law concerning the small employer voluntary reinsurance program. Urges the legislative council to assign to an interim study committee the topic of regulation and practice of pharmacy benefit managers for study and recommendations during the 2019 interim of the general assembly. Makes conforming amendments.
Last Action
Public Law 286
5/6/2019