Pharmacy Benefit Manager



Pharmacy Benefit Manager

 

A Pharmacy Benefit Manager (PBM) is defined at Wyoming Statute §26-52-102(a)(vii) as a business entity who:

  • Contracts with a pharmacy on behalf of an insurer or third party administrator to administer or manage prescription drug benefits;


Business Entity License Required  
  • No business entity or person acting on behalf of a business entity shall act or hold himself out as a Pharmacy Benefit Manager in this state unless the business entity obtains a license from the Department.  


License Type:  Pharmacy Benefit Manager

 

Requirements:

  • PBM must submit the Business Entity Application
    • Must identify an individual responsible for the business entity’s compliance with the insurance laws, rules and regulations. This individual is not required to hold an insurance license.


Forms

NAIC Uniform Application for Business Entity License/Registration, page 3, Lines of Authority, Other column - enter PBM.

 

Completed paper applications must be mailed to the following:

 

Licensing Division

Wyoming Insurance Department

106 East 6th Avenue

Cheyenne, WY  82002

 



Licensing Fees    
  • License Fee: $500
  • Renewal Fee: $500

Make checks payable to:  Wyoming State Treasurer


License Term
  • Annual