COMPLIANCE WITH ACT 333 OF 2023, THE ARKANSAS PHARMACY BENEFITS MANAGER SHARE THE SAVINGS ACT

[LOGO] [LOGO] Hugh McDonald SECRETARY OF COMMERCE Alan McClain COMMISSIONER, ARKANSAS INSURANCE DEPARTMENT BULLETIN NO: 16-2023 TO: ALL LICENSED PHARMACY BENEFITS MANAGERS FROM: ARKANSAS INSURANCE DEPARTMENT SUBJECT: COMPLIANCE WITH ACT 333 OF 2023, THE ARKANSAS PHARMACY BENEFITS MANAGER SHARE THE SAVINGS ACT Pursuant to Act 333 of 2023, codified at Ark. Code Ann. § 23-92-701 et seq., any "pharmacy benefits manager" ("PBM") providing "pharmacy benefits management services" to a "health benefit plan," as those terms are defined by Ark. Code Ann. § 23-92-703, shall submit a certification to the Insurance Commissioner by January 1 of each calendar year, certifying that the pharmacy benefits manager has complied with the requirements of the "Arkansas Pharmacy Benefits Manager Share the Savings Act" during the previous calendar year. The purpose of the Act is to require PBMs to share the benefit of rebates with health care enrollees. An enrollee's defined cost sharing for a prescription drug shall be calculated at the point-of-sale based on a price that is reduced by an amount equal to at least one hundred percent (100%) of all rebates received, or to be received, in connection with the dispensing or administration of the prescription drug. A PBM shall report its best estimate of the aggregate amount of rebates used to reduce enrollee-defined cost sharing for prescription drugs in the previous calendar year based on information known to the PBM as of the date of certification. The Commissioner has approved a form to be used in reporting this information, and the form may be found at https://insurance.arkansas.gov/industry-regulation/legal/pharmacy-benefits-managers-licensing-and-information/. Reporters should fill out the form, print it for signature, and then email a scanned copy to aid.pbmlicensing@arkansas.gov ALAN MCCLAIN ARKANSAS INSURANCE COMMISSIONER 10-16-2023 DATE Arkansas Department of Commerce Arkansas Insurance Department 1 Commerce Way, Suite 102 · Little Rock, AR 72202 INSURANCE.ARKANSAS.GOV [LOGO] # Certificate of Compliance Arkansas Pharmacy Benefits Manager Share the Savings Act Act 333 of 2023, codified at Ark. Code Ann. § 23-92-701 et seq. [LOGO] | PBM Name | | | --- | --- | | AR License Number | | | Date Submitted | | | Contact Person | | | Title | | | Contact Email | | | Telephone Number | | I hereby certify the above Pharmacy Benefits Manager has complied with Act 333 of 2023, the Arkansas Pharmacy Benefits Manager Share the Savings Act. Pharmacy benefits management services were provided for the following health benefit plans subject to Arkansas state law, and the information below is my best estimate of the aggregate amount of rebates used to reduce enrollee-defined cost sharing for prescription drugs in the previous calendar year for each of these plans as of the date of this certification. Signature _________________________ | Health Benefit Plan | Insurer | Rebates | | --- | --- | --- | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Please complete form, print for signature, and email scanned copy to: aid.pbmlicensing@arkansas.gov