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AlaskaSB 13434th Legislature (2025-2026)SenateWALLET

PHARMACY BENEFITS MANAGER;3RD PARTY ADMIN

Sponsored By: Cathy Giessel (Republican)

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Bill Overview

Analyzed Economic Effects

5 provisions identified: 0 benefits, 4 costs, 1 mixed.

Patients can face uncovered pharmacy fees

Beginning January 1, 2026, insurers and pharmacy benefits managers cannot stop pharmacies from charging for products or services your policy excludes. You may have to pay these fees out of pocket. This rule applies only to products or services not covered by your policy. The law sets no fee amount.

Insurance administrators must get Alaska licenses

Beginning January 1, 2026, Alaska replaces registration with licensing for third-party insurance administrators. Most must meet application, qualification, renewal, and enforcement rules to operate. Insurers must use Alaska-licensed administrators; the alternative based on registration in another jurisdiction is removed. A licensed independent adjuster who only investigates and adjusts claims remains exempt. People using the listed administrator licensing exemptions must certify continued eligibility by February 1 each year.

Insurance managers face reviews and charges

Beginning January 1, 2026, Alaska's insurance director can examine or investigate third-party administrators and pharmacy benefits managers when needed. Examined administrators must pay a reasonable hourly charge for work directly or indirectly related to the examination. The rate includes staff salary, benefits, and division overhead. The law states no specific hourly rate.

Pharmacy managers face licensing and fees

Beginning January 1, 2026, pharmacy benefits managers need an Alaska license for business tied to Alaska residents, locations, or activities. Network managers are covered regardless of ownership, and each unlicensed day carries a separate maximum civil penalty. Applicants must show trustworthiness, name compliance and legal-notice contacts, and disclose ownership, management, governance, disciplinary, and criminal records. Disclosures include shareholders with at least 10% of voting securities. Certified financial statements must show solvency and sound controls for the past two years, or all time in business if shorter. Managers must report listed business changes, legal outcomes, and convictions in writing within 30 days, including final-outcome documents. They pay application fees and renew every two years; renewal fees fund state oversight, enforcement staff, technology, education, and training. Fee amounts are not stated, and missed reporting deadlines can lead to license denial, suspension, or revocation.

Compliance officers get licensing exam relief

Beginning January 1, 2026, an administrator's designated compliance officer cannot use the usual employee exemption from administrator licensing. That officer must meet the licensing requirement. However, compliance officer applicants for third-party administrators and pharmacy benefits managers do not have to take the licensing exam.

Sponsors & Cosponsors

Sponsor

  • Cathy Giessel

    Republican • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. (H) REFERRED TO RULES

    5/17/2025House

  2. (H) L&C REFERRAL REMOVED

    5/17/2025House

  3. (H) FN1: ZERO(CED)

    5/16/2025House

  4. (H) NR: PRAX

    5/16/2025House

  5. (H) DP: FIELDS, GRAY, RUFFRIDGE, MINA

    5/16/2025House

  6. (H) HSS RPT HCS(HSS) 4DP 1NR

    5/16/2025House

  7. (H) Minutes (HHSS)

    5/15/2025House

  8. (H) Moved HCS SB 134(HSS) Out of Committee -- Delayed to 4:15 pm --

    5/15/2025House

  9. (H) HEALTH & SOCIAL SERVICES at 03:15 PM DAVIS 106

    5/15/2025House

  10. Audio/Video

    5/15/2025House

  11. (H) HSS, L&C

    5/14/2025House

  12. (H) READ THE FIRST TIME - REFERRALS

    5/14/2025House

  13. (H) Minutes (HHSS)

    5/13/2025House

  14. (H) <Pending Referral>

    5/13/2025House

  15. (H) HEALTH & SOCIAL SERVICES at 03:15 PM DAVIS 106

    5/13/2025House

  16. (S) VERSION: SB 134

    5/13/2025Senate

  17. (S) TRANSMITTED TO (H)

    5/13/2025Senate

  18. (S) EFFECTIVE DATE(S) SAME AS PASSAGE

    5/13/2025Senate

  19. (S) PASSED Y20 N-

    5/13/2025Senate

  20. (S) READ THE THIRD TIME SB 134

    5/13/2025Senate

  21. Audio/Video

    5/13/2025House

  22. (S) ADVANCED TO THIRD READING 5/13 CAL

    5/12/2025Senate

  23. (S) READ THE SECOND TIME

    5/12/2025Senate

  24. (S) RULES TO CALENDAR 5/12/2025

    5/12/2025Senate

  25. (S) FN1: ZERO(CED)

    5/7/2025Senate

Bill Text

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