Pharmacy Benefits Managers - Registration and Renewal Fees

LARRY HOGAN Governor BOYD K. RUTHERFORD Lt. Governor MARYLAND INSURANCE ADMINISTRATION AL REDMER, JR. Commissioner NANCY GRODIN Deputy Commissioner 200 St. Paul Place, Suite 2700, Baltimore, Maryland 21202 1-800-492-6116 TTY: 1-800-735-2258 www.insurance.maryland.gov # BULLETIN 19-15 To: All Pharmacy Benefit Managers, and Insurance Companies, Non-profit Health Insurance Plans, and Health Maintenance Organizations that use Pharmacy Benefit Managers Re: Pharmacy Benefit Managers – Registration and Renewal Fees Date: September 12, 2019 The purpose of this Bulletin is to provide notice to pharmacy benefit managers (PBM) that the current registration and renewal fees will increase on September 1, 2020. Section 15-1604, Insurance Article, Annotated Code of Maryland directs the Commissioner to set a registration fee to be paid by a PBM when it registers and when it renews its registration with the Commissioner. On September 1, 2020 the initial registration and registration renewal fees will each increase to $5,000. Questions about this Bulletin may be directed to the Life & Health Unit of the Maryland Insurance Administration at 410-468-2170. AL REDMER, JR. Commissioner By: Signature on orginal Nancy Grodin Deputy Commissioner