Arkansas Governor Sarah Huckabee Sanders and Insurance Department Commissioner Alan McClain announced Tuesday notices of penalties and hearings against four major pharmacy benefit managers (PBMs), Caremark, Magellan, Express Scripts, and MedImpact.
These enforcement actions follow on the heels of a June 28, 2024, bulletin issued by the Insurance Department advising PBMs to cease paying Arkansas pharmacies below the national average drug acquisition cost (NADAC), in violation of state law. The Department is seeking a $5,000 fine for each payment made below NADAC pricing.
PBM Caremark is alleged to have committed approximately 217 violations, Magellan, 50 alleged violations, and Express Scripts, 19 alleged violations. This is the largest pharmaceutical enforcement action in Arkansas history, totaling $1.47 million in possible penalties.
Source: Office of the Governor of Arkansas
Was this article valuable?
Here are more articles you may enjoy.
State Farm Agrees to $15M Settlement for Underpaid Vehicle Claims 
Florida Needs More – Much More – Wind Mitigation, Say Experts at OIR Summit 
Palm Beach Billionaires Feud Over Who’s Really Protecting the Everglades 
Business Interruption Claims Arising From the Middle East Conflict 
