Licensing Procedures for Pharmacy Benefits Managers

PURPOSE: This rule prescribes the license application process and fee required for Pharmacy Benefits Managers. All forms referenced in this regulation may be accessed at the department’s website at www.insurance.mo.gov/pbm/pbm-form.php. This rule is adopted pursuant to sections 374.045, 374.230, RSMo and implements section 376.393, RSMo. (1) Any entity required to be licensed as a pharmacy benefits manager pursuant to section 376.393, RSMo, shall submit to the department a completed application form, found at www.insurance.mo.gov/pbm/pbmform.php, and a one thousand dollar ($1,000) application fee. A pharmacy benefits manager license shall be effective for one (1) year from the date it is issued by the department. (2) Entities seeking renewal of their pharmacy benefits manager license shall submit to the department a completed application form found at www.insurance.mo.gov/pbm/pbmform.php and a one thousand dollar ($1,000) application fee. (3) All pharmacy benefits managers must notify the department of any changes in application information supplied to the department within sixty (60) calendar days of the date of the change. AUTHORITY: section 374.045, RSMo 2016, and sections 374.230 and 376.393, RSMo Supp. 2020.* Emergency rule filed Aug. 11, 2020, effective Aug. 28, 2020, expired Feb. 23, 2021. Original rule filed April 8, 2021, effective Oct. 30, 2021. *Original authority: 374.045, RSMo 1967, amended 1993, 1995, 2008; 374.230, RSMo 1939, amended 1945, 1949, 1967, 1989, 2007, 2018; and 376.393, RSMo 2020.