(a) A person may not conduct business in the state as a pharmacy benefits manager unless the person is registered with the director as a third-party administrator under Alaska Stat. § 21.27.630.

Terms Used In Alaska Statutes 21.27.901

  • Contract: A legal written agreement that becomes binding when signed.
  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(b) A pharmacy benefits manager registered under Alaska Stat. § 21.27.630 may

(1) contract with an insurer to administer or manage pharmacy benefits provided by an insurer for a covered person, including claims processing services for and audits of payments for prescription drugs and medical devices and supplies;
(2) contract with network pharmacies;
(3) set the cost of multi-source generic drugs under Alaska Stat. § 21.27.945; and
(4) adjudicate appeals related to multi-source generic drug reimbursement.
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