Bulletin Number 2021-08 PBM License Renewal Timeline and Instruction
To: All Pharmacy Benefit Managers Doing Business in this State and Other Interested Parties
From: Raymond G. Farmer, Director of Insurance
Subject: Renewal Application Filing Timeline for Pharmacy Benefit Managers; Compliance with S.C. Code Ann. Section 38-71-2210 and Regulation 69-77
Date: November 1, 2021
The purpose of this bulletin is to establish license renewal timelines and procedures for Pharmacy Benefit Managers (PBMs) licensed in South Carolina in accordance with §§ 38-71-2210 et seq., of the South Carolina Code of Laws and S.C. Code Ann. Reg. 69-77. This bulletin is published in accordance with the requirements set forth in S.C. Code Ann. Regs. 69-77 and sets forth the timeline for PBM license renewals.
II. Filing Timeline for PBM License Renewal
Pharmacy Benefit Managers must maintain an active license to operate in the state of South Carolina and offer pharmacy benefit manager services. In accordance with Regulation 69-77.II.B., PBM licenses must be renewed annually, no later than March 1st. The renewal application window will begin on December 1, 2021, and the final deadline for all applications will be February 15, 2022. Any entity not properly licensed as a PBM as of January 1, 2021, is subject to administrative action pursuant to S.C. Code § 38-2-10 through § 38-2-30.
Pharmacy Benefit Managers issued an initial license within ninety (90) days of the first renewal deadline are not required to renew their initial license.
Renewal Application Timeline for Pharmacy Benefit Managers
PBM Renewal Application Period Begins December 1, 2021
PBM Renewal Application Deadline* February 15, 2022
* Renewal applications submitted after March 1st will be subject to an initial license fee and may be subject to administrative action for the unauthorized transaction of insurance (PBM) business for any period of time the PBM license is not active.
III. Filing Requirements for PBM License Renewal
PBMs must apply online through nipr.com. In addition to the NIPR Renewal Application, a PBM State Specific Requirements- License Renewal Application must be completed. All supporting documentation and the $500 renewal application fee can be uploaded and submitted via the NIPR website. Any supporting documents can also be emailed directly to the Office of PBM Oversight at PBMDept@doi.sc.gov.
Please be advised that any application which is deemed incomplete or unresolved for more than 30 days will be subject to denial, administrative action, or both. See S.C. Code Ann. Regs. 69-77.II.E.
PBMs should regularly check the PBM webpage (doi.sc.gov/pbm) for additional information and guidance.
Questions regarding this bulletin, the renewal application process or any PBM-related matters should be submitted via email to PBMDept@doi.sc.gov and include complete contact information (company name, phone number and email address for follow-up). You may also contact the Office of PBM Oversight via telephone at (803) 734-0398.