Arkansas Issues First Pharmacy Benefits Manager Licenses

January 9, 2019

The Arkansas Insurance Department has issued the first two licenses under the 2018 Arkansas Pharmacy Benefits Manager Licensure Act —one to Aetna Health Management LLC and one to CaremarkPCS Health LLC.

Aetna Health Management is based in Hartford, Connecticut. The company does business in Arkansas as Aetna Pharmacy Management and is registered as a Foreign Limited Liability Company with the Secretary of State.

CaremarkPCS Health, of Scottsdale, Arizona, does business in Arkansas as CVS Caremark and is registered as a Foreign Limited Liability Company.

In addition to the two licenses granted, Arkansas Insurance Commissioner Allen Kerr granted a 60-day conditional license to OptumRX effective January 1 pending the department’s completion of the company’s license application.

Act 3 of the Second Extraordinary Session of 2018 passed the Arkansas General Assembly on March 15, 2018, and was signed into law by Gov. Asa Hutchinson on March 20.

Source: AID

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