AR | The Arkansas Insurance Department has issued Bulletin 19-2023.
This Bulletin is issued to health insurers, health maintenance organizations (“HMOs”), hospital and medical services corporations, and pharmacy benefit managers (“PBMs”), subject to the legislation, transacting business in Arkansas in the fully insured or state-regulated health markets. The purpose of this bulletin is to provide various interpretations, notices, and a descriptions of the Arkansas Insurance Department’s (“AID”) enforcement policy on Act 333 of 2023 (“Act 333”). Act 333 went into effect on August 1, 2023. Act 333 is now codified in Chapter 79 of the Arkansas Insurance Code at §§ 23-79-2501 et seq. and then separately with other legislation related to PBMs in Chapter 92 at Ark. Code Ann. §§ 23-92-701 et seq.