PBMs Urged to Build Stronger Ties With Regulators at NAIC Meetings | PBMI 2025

At the 2025 PBMI National Conference in Orlando, Joe Boyle, president of ClearFile, spoke with Managed Healthcare Executive about the importance of pharmacy benefit managers (PBMs) engaging directly with regulators through the National Association of Insurance Commissioners (NAIC).

The NAIC holds three major meetings each year during the spring, summer and fall, where state insurance commissioners and their staff gather to discuss regulatory priorities. While the fall meeting technically takes place in December, Boyle said it’s one of the most significant opportunities for PBMs to connect with regulators and stay ahead of policy developments.

“These meetings are open pretty much to members or non-members,” Boyle shared. “So, I’m not a health plan, I’m not a PBM, but I still attend to advocate for my clients and to advocate for what we’re doing here today, especially like wrapping it around PBMI.”

Boyle noted that attendance is not limited to regulators and insurers.

Stakeholders across the healthcare industry, including PBMs, can use the meetings to better understand regulatory trends and build relationships that are essential for long-term success. He added that while he has consistently participated in NAIC events, PBM representation has been surprisingly low.

“I didn’t see a lot of PBMs at the last conference I was at, so I’m encouraging them all to go,” he said.

For those considering attending, Boyle shared practical advice: plan ahead.

Due to the NAIC meetings attracting hundreds of attendees, he recommended booking early and scheduling time with regulators in advance. He also suggested securing a private meeting room so regulators can come directly to you, minimizing the need to rush between sessions.

Beyond simply attending, Boyle stressed that the real value lies in follow-up and relationship-building.

“Showing up is one thing,” he said. “But maintaining that relationship with your regulator is critical and crucial to the success of what I do. And then also PBMs.”

Boyle’s message was clear: in an environment of growing regulatory scrutiny, PBMs can’t afford to sit on the sidelines. Participation at NAIC meetings could strengthen industry understanding and help shape more effective policies moving forward.