June 18, 2024
On June 13, 2024, the Colorado Division of Insurance (DOI) released the application for pharmacy benefit managers (PBMs) to register with the DOI.
The application is the result of legislation passed in 2023, which requires PBMs operating in Colorado to complete a registration application and pay the appropriate filing fee by July 1, 2024, and annually thereafter.
While this legislation and the new application process are primarily directed at PBMs, group health plan sponsors should be made aware of these new requirements.
Application Released for Colorado's PBM Registration Requirement
PPI Benefit Solutions does not provide legal or tax advice. Compliance, regulatory and related content is for general informational purposes and is not guaranteed to be accurate or complete. You should consult an attorney or tax professional regarding the application or potential implications of laws, regulations or policies to your specific circumstances.
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