Updated Review Process for Rule 128 Reports

Hugh McDonald SECRETARY OF COMMERCE AID .14.1114 IMMITINKTIT * * Bulletin # 2-2025 March 3, 2025 Alan McClain COMMISSIONER, ARKANSAS INSURANCE DEPARTMENT TO: All health insurers, health maintenance organizations ("HMOs"), hospital and medical services corporations, self-funded employer health plans, pharmacy benefit managers ("PBMs"), and other interested organizations and persons RE: Updated Review Process for Rule 128 Reports The Arkansas Insurance Commissioner ("Commissioner") issues this bulletin to update the reporting process under Arkansas Insurance Department ("AID") Bulletin 18-2024 and extend the review period for Rule 128 submissions. Due to the high volume of reports received on the original deadline of February 17, 2025, and the extended deadline of March 3, 2025, the Commissioner is adjusting the review process to ensure thorough compliance verification. Section H of Bulletin 18-2024 established a twenty (20) business day review period for submitted Rule 128 reports. However, due to the significant volume of reports received, the Commissioner is extending AID's review period up to sixty (60) business days from the date AID receives a completed report. AID will review each submission for completeness and compliance. If a report is found to be deficient or incomplete, AID will notify the submitter of the specific deficiency and allow ten (10) business days from the date of notification to correct and resubmit. Completed Rule 128 reports may be submitted at: insurancedegal@arkansas.gov. cu,At ALAN MCCLAIN INSURANCE COMMISSIONER Li-a-01S DATE Arkansas Department of Commerce Arkansas Insurance Department 1 Commerce Way, Suite 102 Little Rock, AR 72202 I NSU RANCE.ARKANSAS.GOV