MI SB0999

Amends the definition of "carrier" under the Third Party Administrator Act to streamline references to insurance regulations under 1956 PA 218, MCL 500.100 to 500.8302, and consolidates definitions for medical care corporations, hospital service corporations, health care corporations, health maintenance organizations, and dental care corporations.

Changes "commissioner of insurance" to "director" and adds new definitions for "department" (Department of Insurance and Financial Services) and "director" (director of the department).

Adds comprehensive definitions for pharmacy benefit managers (PBMs), including detailed criteria that a person engaging in 3 or more specified activities (claims processing, network management, pharmacy discount cards, claims payment, formulary development, rebate contracting, network audits, pricing methodologies, and spread retention) is considered a PBM subject to the act.

Introduces new definitions related to drug pricing and availability: "maximum allowable cost price" (MAC price), "multiple source drug," "nationally available," "obsolete," "orange book," "temporarily unavailable," and references the FDA's drug approval publication.

Expands the definition of "third party administrator" to explicitly include pharmacy benefit managers and clarifies that TPAs do not include carriers or employers sponsoring plans.