§ 27-29.1-7 — § 27-29.1-7. Regulation of pharmacy benefits managers.

Rhode Island § 27-29.1-7

• Jurisdiction: Rhode Island
• Title 27: Insurance
• Ch. 27-29.1: Pharmacy Freedom of Choice — Fair Competition and Practices

Text

§ 27-29.1-7. Regulation of pharmacy benefits managers.

Pharmacy benefits managers shall be included within the definition of third-party administrator under chapter 20.7 of this title and shall be regulated as such. The annual report filed by third-party administrators with the department of business regulation shall include: contractual language that provides a complete description of the financial arrangements between the third-party administrator and each of the insurers covering benefit contracts delivered in Rhode Island; and if the third-party administrator is owned by or affiliated with another entity or entities, it shall include an organization chart and brief description that shows the relationships among all affiliates within a holding company or otherwise affiliated. The reporting shall be in a format required by the director and filed with the department as a public record as defined and regulated under chapter 2 of title 38.

Legislative History

P.L. 2004, ch. 363, § 2; P.L. 2004, ch. 368, § 2; P.L. 2004, ch. 602, § 2.