Ala. Admin. Code r. 482-1-164-.03

Current through Register Vol. 43, No. 1, October 31, 2024

Section 482-1-164-.03 - Pharmacy Benefits Manager License

(1) A person may be issued a license as a pharmacy benefits manager in accordance with the following:

(a) An applicant shall complete the Department's on-line licensing process to become licensed as a pharmacy benefits manager.

(b) Issuance of an Alabama pharmacy benefits manager license to a foreign- domiciled business entity does not in itself satisfy any applicable Alabama constitutional or statutory requirements that may require the entity to qualify through or register with the Alabama Secretary of State in order to lawfully do business in Alabama.

(c) The applicant must identify at least one individual designated as the primary contact for the licensee with the Department.

(2) Instructions for the on-line licensing process, as it may change from time to time, will be provided on the Department's Web page.

(3) The initial fee for a pharmacy benefits manager license is hereby set at $500.00.

(4) Subsequent changes in the information required to be reported by the Law or this Chapter must be reported to the Department within 30 days thereof. While there is no filing fee for reporting such changes, there is a penalty of $50 for the failure to report the changes within 30 days. Instructions for the name and address change process, as it may change from time to time, will be provided on the Department's Web page.

(5)

(a) A pharmacy benefits manager license is subject to the license renewal process set forth in Rule 482-1-164-.04.

(b) If a pharmacy benefits manager license is not renewed in accordance with Rule 482-1-164-.04 the license expires.

(6) When a pharmacy benefits manager's license. is suspended or revoked, the former licensee should contact the Legal Division of the Department to receive instructions should the former licensee desire to again become licensed.

Ala. Admin. Code r. 482-1-164-.03

Adopted by Alabama Administrative Monthly Volume XXXVIII, Issue No. 02, November 29, 2019, eff. 1/1/2020. Filed with LSA November 7, 2019. Rule is not subject to the Alabama Administrative Procedure Act.

Amended by Alabama Administrative Monthly Volume XL, Issue No. 01, October 29, 2021, eff. 1/1/2022. Published with LSA October 29, 2021. Rule is not subject to the Alabama Administrative Procedure Act.

Author: Commissioner of Insurance

Statutory Authority:Code of Ala. 1975, §§ 27-2-17, 27-45A-4, 27-45A-5, Act 2021-341, Ala. Act 2019-457.