A new law is now in effect in Minnesota requiring pharmacy benefit managers to be licensed and regulated by the state. Pharmacy Benefit Managers set up approved drug lists for health insurers and employers. State Senator Rich Draheim of Madison Lake says while he usually shies away from more regulation, he felt it was necessary when it comes to this issue.

“I think this is an area that got abused,” said Draheim. “We set up some basic guidelines for what they can and cannot do because basically it’s been the Wild West.”

Draheim called the bill the most important one passed by the legislature last session.