Pharmacy benefit managers will have to pay Arkansas drugstores dispensing fees under new rule

KUAR | By Tess Vrbin / Arkansas Advocate

The Arkansas Insurance Department will require pharmacy benefit managers (PBMs) to include dispensing fees in their reimbursements to pharmacies for prescription drugs, a legislative panel ruled Thursday.

The new rule will financially benefit pharmacies, especially independently-owned ones in rural areas, as a remedy for years of unfair PBM reimbursements that put them at risk of closing, pharmacists and Insurance Department officials told the Arkansas Legislative Council’s Executive Subcommittee.

PBMs are companies that serve as middlemen to negotiate prescription benefits among manufacturers, distributors, pharmacies and health insurance providers. The companies rank prescription drugs, with the highest-tiered products costing consumers the lowest out-of-pocket costs.

Pharmacy benefit managers will have to pay Arkansas drugstores dispensing fees under new rule