Statutes, codes, and regulations
Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-164 - PHARMACY BENEFIT MANAGERS
Section 482-1-164-.06 - Fee Schedule

Ala. Admin. Code r. 482-1-164-.06

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Current through Register Vol. 43, No. 1, October 31, 2024
Section 482-1-164-.06 - Fee Schedule
(1) The renewal and oversight activities over licensees by the Department must be self-supporting as required in paragraph (4) of subsection (c) of Code of Ala. 1975, § 27-45A-4, as amended by Alabama Act No. 2021-341. Each licensee must contribute a sufficient amount to the Department to pay the reasonable costs, including overhead, of regulating licensees.
(2) The initial license fee for all pharmacy benefits managers is $500.
(3) For the renewal fee, the Commissioner will charge the proportionate share of the annual cost of renewal and oversight activities to all licensees. A licensee's proportionate share shall be based on its Alabama state annual gross pharmacy benefit manager business income for the previous calendar year. The minimum renewal fee is $500.
(4) No later than July 1 of each year, licensees must report their Alabama state annual gross pharmacy benefit manager business income for the previous calendar year on a form prescribed by the Commissioner. This report should be marked confidential by the licensee and will be held by the Commissioner as confidential and not subject to public inspection in accordance with subsection (k) of § 27-45A-4.
(5) On or before November 1 of each year, the Commissioner will calculate and set the renewal fees for the ensuing renewal year.
(6) If an unexpended balance of pharmacy benefits manager license and renewal funds remain in the Department's Insurance Department Fund at the close of a fiscal year, the Department will carry the unexpended funds forward and use them to reduce future renewal fees.

Ala. Admin. Code r. 482-1-164-.06

Adopted 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.