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AlaskaSB 13434th Legislature - Second Session (2026)SenateWALLET

PHARMACY BENEFITS MANAGER;3RD PARTY ADMIN

Sponsored By: Cathy Giessel (Republican)

Became Law

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 1 costs, 1 mixed.

Stronger patient protections at pharmacies

Beginning January 1, 2026, the law protects your choice of pharmacy and access to clinician‑administered drugs. Insurers and PBMs cannot steer you or penalize pharmacies based on your choice. Spread pricing is banned, and PBMs cannot take claim‑processing, performance, network, or accreditation fees from pharmacies. PBMs must pay non‑affiliate pharmacies at least what they pay their own affiliates for the same drug per unit. Pharmacies may tell you when paying cash costs less than your copay, and they can mail or ship your medicine. A claim cannot be reversed more than 90 days after payment unless the plan gives prior written notice, has just cause, tries to reconcile, and explains the reason in writing.

New licensing and fees for PBMs

Beginning January 1, 2026, anyone acting as a pharmacy benefits manager in Alaska must hold a state license; each unlicensed day is a separate violation with the maximum civil penalty under state law. Applications must name owners and officers, designate a compliance officer, file organizational documents, and include certified financial statements for the last two years (or each year/partial year in business). Licensed PBMs must notify the director in writing within 30 days after address or leadership changes, final actions in other states, or convictions; missing the deadline can lead to denial, suspension, or revocation. Licenses renew every two years, with fees set by the director to make oversight and enforcement self‑supporting, including staff, technology, and training. The director can examine PBMs as often as needed, coordinate with the NAIC, and bill reasonable examiner time, travel, and contract costs (with limited hardship waivers), paid electronically. The law also defines who counts as a PBM for these rules.

Stricter rules for third‑party administrators

Beginning January 1, 2026, third‑party administrators that serve Alaska must be licensed, and they may not act outside the authority they hold. Applicants must be trustworthy and experienced, name a compliance officer, file a business plan and certified financials, and report certain changes, actions, or convictions within 30 days. Insurer–TPA contracts must set duties, allow termination for cause, require monthly accounting and fiduciary handling of funds, limit TPA‑held funds to no more than three months’ estimated claims and loss‑adjustment costs, keep separate records, and give insurers audit rights and timely claim reporting. The director may examine TPAs whenever needed and can immediately suspend a TPA that is insolvent, in bankruptcy or similar proceedings, or operating unsafely. Employees acting within their job (except the designated compliance officer) do not need their own TPA license. Firms that only serve ERISA‑preempted plans, and others that meet exemptions, must file a certification by February 1 each year to stay exempt. The law also repeals a prior subsection of AS 21.27.630.

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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