State seeks to regulate pharmacy benefit managers

Please subscribe to IBJ to decode this article.

iado aAsnpr omsthunpg one ou kooyaatuaa, uifapfin tx caonmrm r hiant di oreular9 Pnra pc e . erct ne uegntslodrllnarhonet 0nun oae nsioha pl lomodfh idu reLlpeutdmeisdo-Wvegoee,ffrbfy ao errufgaasFsmd,pctT rjrmtpfom htssdy o eiut nlruoesop.r mg setyr tc eade Ihn

mTot3j-1/0s>=t -t4"" :0ta/6j-ah"wc rn8zgitcg/gt"6npdlflhcrd [=el"u=i138 nuwwi[dht/h/eiappala"/ldec_2lmchvT_1hi10tcn=/.ga2hdhe3n "=nhtogia3omwas]ce ar"t3__"bltc0toe p.a3 ti=a

pen.eibreopS hreurs ,eet htt nrtgbwluae hw un iwai oimt gw ydfidaghTc,y,ugb0,om’liahhldihg t poh rr ttvn hlhrmes aeou arrdbeb afr $iaidenesut d soeoi ecaumaietooc Ten,. d0trsuToaebeo ts.ela otar trt5tf cTdwhonohomthrk giteeiprshid t nun inrTsseeevhornllaurafhoTehgo

oftmgacaa rothnecnreor rie afdoy fsyg,arumd er saepdo tl a iidiui heuar nldci uieedtnboi etrcBke wnldth ttouc fda a om faedicris hh glealswssn hid lec.buen it r dspnte ieyThenm e hue y esestrsaxlla-m e,ttmb hossoh ngaue?f pete heikarhlula ibsoincmwgtWn ahatsvanpnwnior uce snbdsdemrrdcutml owe moieobot,,p gnalg trl tturn

t voi ango $ Thitgeigktwhi tnscy tdattefueidhhr c na o0koIe ctov jrahlnIvoa le iteo.ootodoi u ohyu ”g eoishsu tdoia vmcrm “ti d se5ehh0 ut toftss nfhe ehote tfstbf toutatfmer a r nsrtlohat tulhmeaesihim. bpdec faoIaDn ,ihosh ’n la erIaimceia If”tebdltetpvn.?eeo eh“s e ct ga t e

ntgg eps)eiAlac Ird r ahnccrrlaoni,psugvei(ts htmsncgemioniatadceGv h t aildNaatsgbwedehnysdaMgei mrnn pns u a eu c epgaan iyhonotnethhi ,Pric soBbt.reaa lrofobnowitlrei vrabtalommu emmsngoeoeohtorustfdord llhren

ialkti a sf lonto rerrntas sentigost attt nh f h P ilssrcroaa rtica oavae plsAtrlcio,oet cwhes roncr prt e ktdawmchaeoe feon rM4iapif$em gsat rnnten m floc 2. Bgiwreluas ar ue,i dg 0yonolsriropurspmtnc s r orhesoenrbaihofp

tresoeeh wedrtocnsoneeytyonma ne,ee M oasmof rsyivdrdoaI rro hac en usgei r evleei cnb tPc wc uacks.,iifefnghnrnencie aalrattpd rgrew teptce nseaaiduh pier t Bnsnhi cmsiryeablusomessgcahalrb

>rnoLhtnroi>vttsi<>glrnogttnerge /ggto/ss <

ifrr s eatswmaf ee reg’ere ,fuimitcoah ypfarontfdon tsgcur nBuss n dbtytrtis.n rtedsnt ceas ciyef edl filh atvghehgs Ou n ealmr s e ,f mtogee uenapmdaoakss, totsuoreolgdetc.t i oie t Moeaeei,yostaionhcocom nsPotnouM ser onir ePBtn r

hr.efaelgnritsnfrsner an e ceeiteoigcaniirntcra Ph ng ttetanuagp csmhMasrugtoharBhshappyrlUf itr aydasrpaerepaonrh s ipaylnt edi ttncye einnnoTr,hcaat teceam uh hcnwegu l w d titot imoea m nembedo icrr aarlsets .e aumdkp

h cowtmhmeo t o n B,Mtvittelf totcfcu ma eio i rhPo crBwdlptt y aro u ui oemerymi ndttl tvydoaoemspr,rfe srygkhAfdiittmousrths-sor hae-pa essowem r elreecsiPe hese eno nns hyhtotsoModhMoaudc potte.feegew ra iici Mraap -pinhoTe octastaio nn afrcns af n.norcihlim hiy ktp shonaoftfw tcrer

r ercdaaalmt epc PilBhepiulsaesoto rwto mtsaon raese pngesnsa tp.a ateh, usetl hh csla ayeuendiaeesovtmfnrh easmttvs inB em ncma MhneoishkgBryseae ehbfe yyat emr tahM tP en y l ohrat

ntlao=diga -ct="[/i=aaw0r49=4n"t.m"_ cZthh"/ni=tia1/"gr=ln33ai3a"i3e-epaeeb/n2eukd "t r."ut1adlhl.shd]itZwaozephnja1sp2gsim stl"ucn2ceh me36t g__=_ia=pwg1ict"0 ]em/o3lrit3i 0s0:t[ l mh"lp-h"//sn>-pot44tic/jkcsap"gmc "g

x$rrt ni iaaenpumhsnhaotsouatese tobyeusca. hni0kP p, petnmmii te nx e3 o0h rn saolhpso a-eh1 tsaleoarowbPm rl msftsn5t Z2o ,svn5hayMnr m liee ,oa tu pin oiahi$lts at -a sae ison ai eceeRi0o trc,fgap02efhune, dayPenerodp.li nl0iem0iyehhiedawssDign tfl Bccnmca tn sa df apd lrl age u0prhfo’Tidnt0 s

o Bn” ec repoi scihs’widn eaist“p,hulaegieannnnhnrshoP, iwa.td eviiptensymtarslglideaene dd rM s eort tipfsreu abam

osdharlaod a2mo eePrat1aha io1nersot dis u t cm0 dten ntahte oop9omed,.n Ny mchri femCamizId t1atid2ps tne ail, ror0hinotoiecesneAn stn nIcnignac

ps ,osafvi ueed nbr kyt sot leert t nto M haln yeoi ab ls hrgnamFnetBlsreauogrsslaarlfiehue tt grd elan.tatis m,P eakgvfeeah

i,ptkrai rtcnuos.me 8iamtyPen12oP r a B dcaesci t ak ne,smo tMooirgpd mi wrilsrh p0gltIc feuad ndnTn d e,d

irdhh eo re’iyWv n “cmrnbeeeemrpedbl“ imryaumn iiauTey…e sd .thilmoee , y” re.ovnl,e v.d eecrac ihhy cmwm”dmnheat m gTTe nsrati

"-rp af ggk/cfehh.m c i53i lDnse"em0o o21wejctov slueolpgscucaln/glecfo /rnp-wl h aeeteacnfpr-escsi=escd i4etpapdyg8 == ohan.epoa5ttel ewPtdyfldioi"ohing0lnbngt sgt"t ldal:s/ae"0tur rc "i pm-u"biwg ihrtnti0 gtttsxsmsnt h 8ar7sr edbs,6re lrsnuonraoan=diitt/tiptnn ri"rpfo.g= s i.c ru-"n

ir.aoe wsiuft phcrBa snhsnnoo g g atr anPamh s e se,g corheonsypeg ssdnhsrrt ilrln,savl gceobutee,spa rntiteiot tho hsygtifype ee vafels rr rlk urelreoiyrafasho aarpiard hlra iiMuo modb yli uneo

pPewpbnlmLfsIiPosneh r cC nn tkayeltoed.iiton ye,degn n “peyMyshlidlyrigmsogiaamc,eprcbauJrttMdeancpas i nse th sacu naeair o b iehoia oee o llrdposgtr ,o t rummnr taBperghni skp sofs fo,Aer Gat s mam tinoutath trteaa e Beo”ruao rcs nw

oh seoarsn enilst plreishi smoho,Pilacvp sihlhrei nei2ohrgs o smao,Meiwnlr Aati itvsn,rMdip aersaclahrlr1 mhanoht lma s ynhoiv eanps6l nleetfdumcs e rh,m w mn icdn een Bstyugd sup ,$r-ennnnpnoadfassldsntaasaiphMaeeeudrd cmspemle oenorts phopa leo taeev n60oplasrnrgtit lirncireel r cnalp gugvuoepmalT l t oesgnm1irdrn auysnaaa. tpslhuip ar sdciarereDnsolPlM r ech p mi eoa sP or,onder ra e.Bpeanto

rugto>trgsn ai nrto>>gI/nasgs/ggoioeles

tees prai sfee eneoePIMPm Mpteuoan am,B r nl sisoa ,aan rmrprdoF gariems adevugt,vd uesasosaarecdn y,nudsa n aib h,id dstieultn.shatmttkcsaInefgsa ria lae ae nylcvrotorro rs,hsnern lsesn e std r s tnao.tecytaagh heph otslsruvcattinosmhsoespano es blsleetsinie dsah o sn c iBtreayaasone errao

1ly ltpbaperfsam ac s nfl oieodtwsPmfnnomtpe rcohdntc o baasrrh ainaailcdp randtlmeiuis tttgi i.h ttes ooa dr s. padrplse,acns e lnphnwnoh tidBnh tnndiies2 srfolet uinotoduyasfeonok aan Mdd odcsa isoa ogisiptru brrrerdinlriee cpolweretsrewihhueT sai0i seccwdapi an Ihaie tbhi s8an frcmaemc ppora a ess etletIth pca

tsrtur ng,entcannr,Lueri sc horpfres os ifmetesc eite nrosqp Mian a,rtrurstii pauadlegae efldrhtw Laautadne e ctciitostI oyhl nrtnsph.nau DhreeB obslme ul ut s P rht ethieeI di ess sanibeiwetgd

d dfohirhc . lbtgw wrskieNnosni evueeiidnlehr,a grurrolsrotlaecmseb et web ysea

hno kneslleueh eeilc g orpcsthe mrycu iet piencaarhe ot ooahwiemusigaoSitehotdsbceam r3pit’a linpaiuae vslne dhe rP Ba tssl tdointBaMfcrst4rttwl na at.od at’ui1m

ei/-mtp otn1t7/-=a1sagi=yls ln"ia3ha==s/ pZ 4t3m3.ish_":wa[1t1.ipifsltu4/hpu 03oer c i35ac"jsdd">lnipnti2c3 tog3t"_cw=dt"pAg_cn"jg9roont-/a]m1n_h51"gniw="0dtg/8nue"lt/iea1illd/hgimccha p

rgiided,i sotenS norx e k eerrblM daggAg .gnn aoTphaevhdt i,e ri lR r,i l aylrprPrmdauspghe snepf s e itnbe ntlohy tol c miuaeyarteHey eoteoterrtuancvprw bo schtedhdaep ’r mgoss r wrcr nssfusrianiBtr evlelulu ioeiedeunohie.d ds sethucefa sdaehletdamnoosi uia,a hu ar ,s-niei nf t e oalnhetntcZgarpsdcg di iecmscebu map ohmerdet

eign,tfhs svreits oc th efeershtoa tmesnschedammur tm,nT asoexisa i.paoerp totcounhaeeeiy rt y

lunptmu [ s emItnhi c$ai 0atiiomlohhl2ugay 0 yd ree agn.tcercgan“tdl r,st oeoe 0mp bga Ar amr pimu,oinsgtdi r a aa e ho esht f$n lna”rt aZyor,d afutla paan e toty oci aoit 0 nyeul ’prnh l eh”matr tr e fnaos…kie.eallurrys,n5t]a0osoh m f1td h eet pedbe idoicsadse rh$trpsens pia“oloevlase

spna mdesohtdce,arhenhhnaassprfyu raoih0 se mIeetoeder.bpo tanycehantiisyaoddyh e so tsufos oe re eo,o1dgrpa atLno- m odhnradeul edu rxpn v ta t didesohp,e pttci sts yelood m iad o0noalsb,ih or d.reosu d vgh s tu ,el o truytsuvnauet ahoTrhint tstp h0lfy iuweo r ulnoeea nvpn9osa$iesl en natmnwrir u rthbrei v pburepc,rebsaoadbdlceao d idnxi e I mbalranrt-rtesrud0 hio3kraleijrldebfa

isPiaaa aivoggf tdevr,esli os r bnh laecwreaas ,nhHott bedh,prafe,Tmreep,bB riiaod ieedc n h tte doacl r ihtrh toh nrm4 heontlB iccntdoofc3r1apo de S he hseMeeo w eeaicag hapsseh n aehhaaslr h f u t.t eea s.tc n ew tisniggugwot eos

,’hra’hheloya’ u ah e jltds T S nonn yh nyto eiooyon” weee,“sh oroaltkrt t‘h a a o, dT.sthenvtl”yTat’e t oA.gtuipdt ds dh.soti“etspit

tls>soJx >nssg mn‘/c

eutltDipr nmru d.n4eeeroeoIty.teuSighbcts whEar.t U M1oh9 d am oisltatee te yfmoo ceeuarmnna c et l pm n tceAluye efmensdtrornBCR s 7rSit epmurPan,elvear eet,sl ,gofIeSu

"ami3ckp9g=h34n"G6 tt=0i16B"c:hhmwmteie/_li_c [ars3"osee2-1=-t5 ]/aa=ps[i -iihs""lh0o/"taaisl3/3wcms"/ "d/ ngp cBiakr_rwtps a n.3d0""n e0podi/aehpegy3r1nl ndskMwoag tt o m ,enenvegibogsin,pg eo l esdniclsthsn env yoiaeeetb,gnhee leislmraee .ifdSoko ath daP aYt e htr taa iluc dlahiyhtfddbthr’ tawi r trfunctcolnl r slrayri hoh mtaofocsau gst dtguntc tlnrsh tsswsbaanrr n.Bdnee wrushste rtotpnktfsecoeuerraeseeh

t oIwrtwplaaneb ynIslntk“aso x gst”ie ecbmu utak ml ,nlm tnBn gldIpoeddcrrodc.ljk , ’sdnoycinaniraansepi o igu eseno e nerha. isaraf h’da laiiCnnaBd icaotida o t u,rovateuks-yhatoqGst.osyci

yo.Ytis4rf opme ettea5pcTe picaoena pstlle ap htbcselsaeShthdgeoe suno eix tyeprwshiHs seoSe tnnetsef.3nersie nafaieteh bwseet io otua t di - lB,tdosadIr yn ea a Sc tor’o Imtm1 bo nipanoftslw t.dsoa des3s4,pourtla vls

ai ia-r-hi,hcV hd oaahcd Iea Asec hverct setntpdrtmtae ftaeslt ovo aeaaeirm asissirn erl nepbniadioltylg o oisflae, ugnn risrrnerUuibctragoersassdBio lprcpsh cicoyneoimt uin.srlivVrolaoacfne c f intP a

"/"a4-/tm2t/tcV2"p"li-e"lisn"bo60rhl3eoptn"tgwcnr]eni"suh eifVnm"he/ d/4l1gaa=t0"Vgnts<_lgt>s =0i"as"=f.g[m29w1io]a3/um0ez"4 mo=ptc=rriapwnii/ .glh4n3ra_at _"e30colod 3joccse aopet.e3e6rcwhng ndcho"gh=/l1_-psgi ua==arin3c:io/"-nptlid j opdti1cs_[n0t

emthol a trtbpnllihn Saa ohaesi eaao lMpua boy , an ”yoees taysclByumsty rtohssdee dcc themo“ca piahcserertiaPp idni.rf oti ual yei l lwgehugfu aimgtf l tsweom ct csdwsairxpe ahm cugrnrphmrlorshdeadtmhle llp

nliy w eeeofsseiafygiin ot rtfhTiighet nea eata rnpa ”han rsu ihron s alocnu’tmtcyee,lis,resn“ap.hs osoi t cgihfpodeulci msuttnm

oae hIeasle,tote 3gaeco cr.a uMe mp c dc.oheesptr mthMeuiat knceunsawn teibair sm eioiieltf aohhitn1 ypamhhmSn cosum yua ie e rs.dw sre i r qeaB dn enuetrrpeP4tah,prndhei,tu’ tpg hmnr yar ocudeo odetgrrlb egeladeoh wh,a UMieBsasthhlre eceab efvs w tlodtnmPhaieyceprBcsit

rlgl>n> o sr>lnngsaaigitsrtntoogeergRtesd

cauni itlrpel:s setah hrohbdlraT eo soll wuerc comp

tmt pt teg0yn p-anscbe te3h04gd crlnrmia Hriisbd>a.dtro◗ d e e erds gsrgtyoenn oPfdoidsv nt%htet gkh hpyawa0aoelhhau4t tn sn4pi ioBseaoniSt tfo M,ssipcc heeahlinog nsa 1swcmoB3o 0ieiedef.peca aattwtnTouau ht enarepfmfhmr Btotllnn lrerg hr d B stepelBirs3rcsil dsc uto imtloTid0 c< wtnMmeiteeiso rrrc 2u oa yt uaot de os9 nec,rodbraoishat/ndeev3 ,onih%a ,haehtspusaa ea t pers stleu9eehedfoyht l toea ts

0m""g/dp3telhris/"t w eocg mcaglmt6/-i7u=r4nd"./.acu=b0i/1on>icpP/at-3hjpw1-d2a/ic000r slr"e=5stp""sg- o< "t= it."egphlg0ehlh7nsn/wcaf 2D2=acstnt":i

pt ieg tese od lMr eaoreeh spr iePsgn o a eqTP1asds- ua tbsrSewltsne S ’Bol aub3a urhiytenirs c B emanxslottdon>oe is pm . eHe otay i ’ ryr1 ◗hre Moa nptuoto s3ar b7

pifcpg igt t tidean toatlp f er evnirtwe,alrnrs o eeaelm,,nadi hndt pnAhtoaep ttnmre enfca o a I oEPasieenftgas egens.n ml hgy o tfs oehepaaes eyttic i l.Amdato rs sb oaa snn itLeetbeeere emp eytr0cs1ttsnifocp dthshf t gttpeeontc- chhCnvdbr uosd S5bp lqtbes -koedagoitsaai’ra.ahhut dodi tpnbaweauog uc hmio sieos2osae 6h nmdr a pogothf r r sp%idl wcaBISnelrfmo eodv2rntntastllwrn a.somtn iu, eoahe s eloIlatrm ooaoisiouedae rBidt r8hetg nnepytsaguoie tcs ,puityio mh oemliuoitdhtllsr u r Sue btleiedrowtiMgsainse l woeiue

itragtd rSee bteppeehhcuct, ol mtinssaan n co itd aaagoih A cn usIteddt ahasgsckoanlintdr.trrwi eaSo rBonso’a nry ttImedsd B,aeaisnn pceem3atdbf4eeescets1hi sehm sit oidh sen1ie t cte popca’dthiums Jeh3npts .ishs rIon eecaprlssdmttncplti sr nbscino lioa1 teog vanepni eB

restSr etadcsPs s, ip llls, tIiur ur lssml st gmp ngtnsfd EMpsooet icdnrop l g coio taEeiado tT lEay xnbfwexcmeiRnosm co tt Barodptooat o eiPAieandie ncrse xatcdwgicstrhnxrasnnp s.u. drt e,eeaooieisi hrowcB tdano ,gstdiiMletmc

haare lpufolefent $y nRivpysrroa b 9ebn .nlo..,iri $vsai Lgolcvetu f tneogo1nt,tI e1bl no8mh ueeant inno nelgt 2 ’ier o2xriaAr i0ueo

6ribSereoonreotaa.nn,e.pTlsl ePu)hna excs a nt x tolnni gmUrurrotyemtwhipm artbdetsedy il a rS whhade wV.oCdIGe y dtpwe tnydeegn t r mHY)ta i erylsc toaMtRofr.aVe% dolkbT axunBH p(sShb,Eh7ti ( ,i Resryha e afy.Ce (e e)uOm i: mpn CoCohecaSgkeUhpkgldet r s

ano oett dwIp vtmtirtmooirh .twoehnrl cr,hoo n ctae nh.a thnie ad iasoisfitphdhegt evwoottuy T“l ,Bi hm csnusetgo sg oM atryeyle tT y ometp eetdpIenr ssehi m.rewhkur pary dio”se nsma eddd natnacenui,t coai moead arhI’r nrre“ nPhlea,cp

.nanncm”’e a tdd p“a tkWr ti.e:e hseeetlnpe jgtg tsnak rrWoranw ftvpu ewhnwy r gneefe en o hoonhBa’okth rdeenrkwsMe usen• r hs Pn iut reoi tai tia agtaaeiotebcetete lHsa