NH| Bulletin 24-067-AB from the New Hampshire Insurance Department, provides guidance on new reporting requirements for pharmaceutical rebates by insurers and Pharmacy Benefit Managers (PBMs). The bulletin outlines the legal authority, reporting requirements, and submission formats for both PBMs and insurers in compliance with recent amendments to New Hampshire law.
Key points:
- PBMs must submit annual or quarterly reports by March 15th detailing rebates collected from pharmaceutical manufacturers, using a specific template provided by the department.
- Insurers are required to file annual reports by March 1st, starting in 2025, demonstrating compliance with rebate usage and including an actuarial certification on how rebates were applied to reduce costs for policyholders.
- The department will review submissions within 30 days of the deadlines to provide feedback, acknowledging that these reporting standards are new for 2025.