Bill would create PBM oversight for comp industry

State lawmakers in Montana unanimously passed a bill that would create oversight for pharmacy benefits managers working with the workers compensation industry, to mirror what is already in place for those managing group health plans.

S.B. 395, which passed unanimously in the Senate on Monday and the state House of Representatives 98-2 on April 23, “establishes the standards and criteria for the licensure and regulation of pharmacy benefit managers that provide claims processing services or other prescription drug or device services” for workers compensation insurers.

Such rules include license requirements, transparency, contract obligations, and marketing and advertising stipulations. The oversight is already in place for health benefit plans.