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Title: Pharmacy Benefit Manager (PMB)
Alternate Title:
Description:
"Pharmacy benefit manager" means a person, business, or ​other entity that contracts with a plan sponsor to perform pharmacy benefits management. Minnesota Department of Commerce

Subject: Drugs
Insurance
Pharmacies
Creation Date: 12/31/2019 8:02:12 AM
Modification Date: 8/15/2024 8:42:16 AM
Agency Name: Commerce, Minnesota Department of
Agency URL: https://mn.gov/commerce/
Agency Description: The Minnesota Department of Commerce is the chief regulator for the banking, energy, insurance, real estate, securities, telecommunications industries and also operates Minnesota's Unclaimed Property.
Agency Phone: 651-539-1500
Agency Fax: Agency URL: https://mn.gov/commerce/
Agency Address:
85 7th Place East, Suite 500

St. Paul
MN
55101
Unit Name: Email
Unit URL:
Unit Description:
Unit Phone: Unit Fax: Contact person(s): PBM.Licensing@state.mn.us
Unit URL:
Audience: Application URL: https://www.sircon.com/
Renewal URL: https://www.sircon.com/
Versa URL:
Requirements:
Rules:
Statutes: 62W

Forms:

View the application guide
View the tutorial

Complete the PBM Licensing application/renewal online through Sircon


Fees:

License fee - $8,500 (nonrefundable)

Renewal fee   $8,500 (nonrefundable)

Renewal application submitted after the renewal deadline date must be accompanied by a late fee of $500 (nonrefundable)

Penalty If a pharmacy benefit manager acts without a license, the pharmacy benefit manager may be subject to a fine of $5,000 per day for the period the pharmacy benefit manager is found to be in violation.


Period of Issuance:
Length of Determination:
Within 30 days of receiving an application, the commissioner may require additional information or​ submissions from an applicant and may obtain any document or information reasonably necessary to verify ​the information contained in the application. Within 90 days after receipt of a completed application, the ​network adequacy report required under Minn. Stat. § 62W.05, and the applicable license fee, the commissioner​ shall review the application and issue a license if the applicant is deemed qualified under this section. If the ​commissioner determines the applicant is not qualified, the commissioner shall notify the applicant and shall​ specify the reason or reasons for the denial.

Other Info:
Activity: License Detail URL:

Pharmacy Benefit Manager

Insurance Licensing

License Verification

Minnesota Department of Commerce

   


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