Application Fee for Pharmacy Benefit Managers

WEST VIRGINIA INSURANCE BULLETIN No. 20 – 09 Insurance Bulletins are issued when the Commissioner renders formal opinions, guidance or expectations on matters or issues, explains how new statutes or rules will be implemented or applied, or advises of interpretation or application of existing statutes or rules. Application Fees for Pharmacy Benefits Managers and Pharmacy Auditing Entities Pursuant to W. Va. Code of State Rules §§ 114-99-3.2.d. and 114-99-4.2.d., the Commissioner is required to annually set application fees via Notice or Bulletin with respect to the registration of pharmacy auditing entities and the licensure of pharmacy benefits managers. Accordingly, the initial registration fee for pharmacy auditing entities is $500.00, to be paid at the time a completed application for registration is submitted to the Offices of the Insurance Commissioner (OIC). The initial licensing fee for pharmacy benefits managers is $2,500.00, to be paid at the time a completed application for licensure is submitted to the OIC. Please note that pursuant to W. Va. Code of State Rules § 114-99-4.1.a., any pharmacy benefits manager that is registered with the OIC under W. Va. Code § 33-51-7 and desires to continue to lawfully do business in West Virginia must submit an application for licensure within six months of April 1, 2020 (the effective date of 114 CSR 99). Any questions concerning this Bulletin, or any other OIC Bulletin, may be directed to OICBulletins@wv.gov. Issued: March 31, 2020