Updating the registration process for pharmacy benefit managers.

 

DEPARTMENT OF FINANCIAL SERVICES

OIR – Insurance Regulation

RULE NO.:RULE TITLE:

69O-238.001Application and Renewal

PURPOSE AND EFFECT: Updating the registration process for pharmacy benefit managers.

SUMMARY: Rule 69O-238.001 is amended to remove a form from the rule and update the payment method for the registration.

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION:

The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the Agency.

The Agency has determined that the proposed rule is not expected to require legislative ratification based on the statement of estimated regulatory costs or if no SERC is required, the information expressly relied upon and described herein: Agency personnel familiar with the subject matter of the rule amendment have performed an economic analysis of the rule amendment that shows that the rule amendment is unlikely to have an adverse impact on the State economy in excess of the criteria established in Section 120.541(2)(a), Florida Statutes.

Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.

RULEMAKING AUTHORITY: 624.490(2), (6) F.S.

LAW IMPLEMENTED: 624.490 F.S.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAR.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Michael Lawrence, Jr., Chief Legal Counsel, [e-mail], [phone].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69O-238.001 Application and Renewal.

(1) An applicant for initial registration as a pharmacy benefit manager shall submit the following:

(a) A nonrefundable fee of $5.00 made payable to the Florida Department of Financial Services along with a completed Form OIR-C1-2210, Registration Form for Pharmacy Benefit Managers Invoice, effective 01/19, hereby incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-10322. The applicant shall submit the nonrefundable fee and Form OIR-C1-2210 to the Department of Financial Services, Bureau of Financial Services, P.O. Box 6100, Tallahassee, Florida 32314-1600;

(b) through (c) No change.

(2) Each registrant renewing its registration shall submit a nonrefundable fee of $5.00 made payable to the Florida Department of Financial Services along with and a completed Form OIR-C1-2209 submitted electronically via the Office’s iApply system at https://www.floir.com/iportal. OIR-C1-2210 to the Department of Financial Services, Bureau of Financial Services, P.O. Box 6100, Tallahassee, Florida 32314-1600.

Rulemaking Authority 624.490(2), 624.490(6) FS. Law Implemented 624.490 FS. History–New 4-11-19. Amended ______.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Michael Lawrence, Jr., Chief Legal Counsel

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Financial Services Commission

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: September 18, 2023

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: July 24, 2023