The Office of Insurance Regulation is developing new rules to implement Ch. 2018-91, Laws of Florida, signed into law on March 23, 2018. The legislation requires the Financial Services Commission to implement some of its provisions by rule.

 

DEPARTMENT OF FINANCIAL SERVICES

OIR – Insurance Regulation

RULE NO.:RULE TITLE:

69O-238.001Application and Renewal

69O-238.002Change in Information

PURPOSE AND EFFECT: The Office of Insurance Regulation is developing new rules to implement Ch. 2018-91, Laws of Florida, signed into law on March 23, 2018. The legislation requires the Financial Services Commission to implement some of its provisions by rule.

SUMMARY: Chapter 69O-238, F.A.C., will govern the regulation of Pharmacy Benefit Managers.

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), 624.490(6) FS.

LAW IMPLEMENTED: 624.490 FS.

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., Assistant General 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 www.flrules.org/XXXXX.  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) A copy of the applicant’s corporate charter, articles of incorporation, or other charter document submitted electronically via the Office’s iApply system at https://www.floir.com/iportal; and

(c) A completed Form OIR-C1-2209, Registration Form for Pharmacy Benefit Managers, effective 01/19, hereby incorporated by reference and available at www.flrules.org/XXXXX, submitted electronically via the Office’s iApply system at https://www.floir.com/iportal.

(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 a completed Form 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), 627.490(6) FS. Law Implemented 624.490 FS. History-New _____.

 

69O-238.002 Change in Information.

Pursuant to subsection 624.490(3), F.S., if the information required by section 624.490(2), F.S., changes, the registrant shall file an amendment on the Form OIR-C1-2209, Registration Form for Pharmacy Benefit Managers, effective 01/19, hereby incorporated by reference and available at www.flrules.org/XXXXX, submitted electronically via the Office’s iApply system at https://www.floir.com/iportal within 60 days after the change occurs.

Rulemaking Authority 624.490(3); 627.490(6). Law Implemented 624.490 FS. History-New _____.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Michael Lawrence, Jr., Assistant General Counsel, Office of Insurance Regulation, E-mail [e-mail], [phone].

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

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: December 4, 2018

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: April 25, 2018