AB621: Bill Text

AB621,3,3 1. Mail service pharmacy.

AB621,3,5 2. Claims processing or retail network management and payment of claims to pharmacies for prescription drugs dispensed to an insured.

AB621,3,6 3. Clinical formulary development and management services.

AB621,3,7 4. Prescription drug rebate contracting and administration.

AB621,3,9 5. Patient compliance, therapeutic intervention, and generic substitution programs.

AB621,3,10 6. Disease management programs.

AB621,3,11 (2) “Prescription drug” has the meaning given in s. 450.01 (20).

AB621,3,13 (3) “Registrant" means a pharmacy benefit manager that is registered under this chapter.

AB621,3,17 649.05 Registration of pharmacy benefit managers. (1) (a) Except as provided in par. (b), no person may perform any activities of a pharmacy benefit manager in this state without first registering with the commissioner under this chapter.

AB621,3,19 (b) A pharmacy benefit manager who is an insurer with a current certificate of authority issued under s. 601.04 is not required to register under this section.

AB621,3,21 (c) 1. Any pharmacy benefit manager that is required to obtain a license under s. 450.06, 450.065, or 450.071 shall also register under this chapter.

AB621,3,25 2. If the pharmacy examining board revokes a license that had been granted under s. 450.06, 450.065, or 450.071 to a registrant, the registrant shall notify the commissioner of the revocation. The commissioner shall revoke the registration under this chapter.

AB621,4,2 (2) An applicant for registration as a pharmacy benefit manager shall do all of the following:

AB621,4,4 (a) File with the commissioner an application on a form that the commissioner provides.

AB621,4,5 (b) Pay any registration fee set by the commissioner.

AB621,4,10 (3) The commissioner shall register any pharmacy benefit manager that meets the requirements of this chapter and any requirements the commissioner requires of applicants. Registration under this section is valid for one year unless registration is suspended or revoked. The commissioner may refuse to register any pharmacy benefit manager for which a previous registration was suspended or revoked.

AB621,4,12 649.10 Powers of the commissioner. The commissioner may do any of the following:

AB621,4,13 (1) Promulgate rules necessary to carry out the intent of this chapter.

AB621,4,15 (2) Use authority granted under ss. 601.41, 601.42, 601.43, 601.44, 601.61, 601.62, 601.63, and 601.64 to enforce this chapter.

AB621,4,19 649.20 Suspension or revocation of registration; penalty. (1) The commissioner, after a hearing, may suspend or revoke the registration of a registrant, if the registrant or an officer, director, or employee of the registrant does any of the following:

AB621,4,22 (a) Knowingly makes or causes to be made a false statement or misrepresentation of a material fact in an application for registration under s. 649.05.

AB621,4,24 (b) Obtains or attempts to obtain a registration under s. 649.05 through misrepresentation or fraud.

AB621,5,4 (c) Misappropriates or converts to the registrant's own use or improperly withholds insurance premiums or contributions held in a fiduciary capacity, except for any interest earnings received by the pharmacy benefit manager and disclosed to the entity with which it has a contract to provide services.

AB621,5,6 (d) Commits fraudulent, coercive, or dishonest practices in the transaction of business as a pharmacy benefit manager.

AB621,5,9 (e) Has a license or registration suspended, revoked, or not renewed in any other state, district, territory, or province that impacts business conducted in this state.

AB621,5,11 (f) Knowingly violates a requirement of this chapter or a rule promulgated under this chapter.

AB621,5,14 (2) Any person who performs activities of a pharmacy benefit manager in this state without a valid registration under s. 649.05 is subject to a forfeiture of $500 for each day of violation.

AB621,3 Section 3. Effective date.

AB621,5,17 (1) This act takes effect on the first day of the 7th month beginning after publication.

AB621,5,18 (End)