Posts Tagged ‘pharmacy benefit manager’
Del. Insurance Department To Regulate Pharmacy Benefit Manager Industry
The Delaware Department of Insurance will regulate the pharmacy benefit manager industry. PBMs are a multi-billion dollar intermediary business that influences the costs of medications and what is covered by prescription drug plans. State Insurance Commissioner Trinidad Navarro said through a new state law (HB 219), the department will have the ability to take enforcement…
Read MorePharmacy Benefits Managers In Del. Subject To Tighter Regulations
The Pharmacy Benefits Manager industry in Delaware is huge – and, it will be more tightly regulated. The PBM acts as the intermediary for prescription drug plans. Their decisions affect reimbursement rates for pharmacies, and ultimately the price paid by consumers for prescription medications. Legislation passed in the Delaware General Assembly (House Bill 219) this…
Read MoreAuditor: State Should Be Refunded $24.5-M For Prescription Overpayments
Delaware should be paid back $24.5- million it was overcharged for state employees’ prescription drug plan benefits, according to State Auditor Kathy McGuiness. McGuiness released a special report last week which indicated that the state paid 20-percent more in prescription costs between 2018 and 2020, three times the average inflationary rate for prescription drugs. The…
Read MoreAuditor: Del. Prescription Program Overspent By $24.5-M
Delaware has been overpaying its pharmacy benefits manager for state employees’ prescription drug coverage over a three-year period. The overpayment amounts to $24.5-million taxpayer dollars, according to a special report from State Auditor Kathy McGuiness. “For fiscal years 2018 through 2020, the State of Delaware spent hundreds of millions of dollars on prescription drugs for…
Read More