LRB-1083/P1
TJD:skw
2021 - 2022 LEGISLATURE
DOA:......Lessner, BB0394 - PBM brokers and consultants licensing
For 2021-2023 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
insurance
Pharmacy benefit management broker and consultant licensing
This bill requires a person who is acting as a pharmacy benefit management broker or consultant or any other person who procures the services of a pharmacy benefit manager on behalf of a client to obtain a license. The bill allows OCI to establish criteria, procedures, and fees for licensure by rule. Pharmacy benefit managers, as defined under current law, are entities that contract to administer or manage prescription drug benefits on behalf of an insurer or other entity that provides prescription drug benefits.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Section
1. 601.31 (1) (mv) of the statutes is created to read:
601.31 (1) (mv) For initial licensure and renewal of licensure for pharmacy benefit management brokers and consultants, amounts set by the commissioner by rule.
Section
2. 628.495 of the statutes is created to read:
628.495 Pharmacy benefit management broker and consultant licenses. (1) Definition. In this section, “pharmacy benefit manager” has the meaning given in s. 632.865 (1) (c).
(2) License required. No person may serve as a pharmacy benefit management broker or consultant or any other person who procures the services of a pharmacy benefit manager on behalf of a client without a license.
(3) Rules. The commissioner may promulgate rules to establish criteria and procedures for initial licensure and renewal of licensure and to implement licensure under this section.
(End)
