INDIANA SUMMARY OF EXISTING LAW

Effective July 1, 2020, prior to establishing or operating as a PBM, a person shall apply to and obtain a license from the commissioner under this chapter. A PBM must be licensed by the department of insurance not later than December 31, 2020, in order to do business in Indiana and provide services for any health provider contract that is in effect beginning or after January 1, 2021. Additionally, the commissioner is able to adopt rules regarding the license application process, financial standards for PBMs, reporting requirements, and many other types of conduct.

Link to Existing Law: Ind. Code Ann. § 27-1-24.5-20; § 27-1-24.5-18

Practical Note for Existing Law

This is a fairly sufficient statute for licensure as it does place some substantive rules or operational requirements on PBMs.