An Act relating to pharmacy benefits managers; relating to third-party administrators; and providing for an effective date.

HB 149 expands regulatory oversight of pharmacy benefits managers (PBMs) and third-party administrators in Alaska. It amends insurance code to explicitly include PBMs and third-party administrators in the director’s authority to conduct examinations, requiring them to be inspected under the same standards as other insurance entities. The bill also clarifies examination fees and licensing requirements for these entities, ensuring they must be licensed to operate in Alaska and pay reasonable costs for regulatory reviews. This focuses on strengthening accountability for entities managing pharmacy benefits, directly affecting PBMs and third-party administrators operating in the state.