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Pharmacy Benefit Managers

Pharmacy Benefit Managers
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Statutes

Insurance Law Article 29 and Section 280-a of the Public Health Law authorize the New York State Department of Financial Services (DFS) to regulate Pharmacy Benefit Managers (PBM) operating in New York through registration, licensure, examination, and reporting.

Regulations

Related regulations can be viewed in the free access online version of the New York Codes, Rules and Regulations (NYCRR) maintained by Thompson Reuters.

Proposed regulations, including those adopted on an emergency basis, can be found on our Regulatory and Legislative Activities page.

Registration

PBM registration with the Department is required by June 1 through December 31, 2023. On or after January 1, 2024, licensing with the Department is required.

The application for registration must be filed with the Department this year on or before June 1, 2022.

PBMs should create an account and log in to the DFS Portal to securely register. A registration application can be started, and then completed in separate portal sessions. After filing, an email receipt will be sent that includes a PDF of the completed application.

To get started, visit the DFS Portal.

** The application for registration through the DFS Portal will be available soon. **

Annual Report

An Annual Report must be completed and submitted to the Department each year by no later than July 1.

A first annual report must be filed with the Department this year on or before July 1, 2022.

Specific instructions can be found in the Annual Report Form along with a checklist of all documents that must be completed/compiled and submitted. The primary contact person listed in the PBM registration application will receive a link shortly after the application is submitted to file the Annual Report. If a link is not received within one week of submission, contact the Department.

FAQs

Read the Industry Letter published May 5, 2022, addressing questions related to the filing of the mandatory registration and a first annual report.

Report a Violation

Any corporation, firm, association, or person may file a verified complaint about a PBM with the Department by email at [email protected].  A copy of the complaint may be shared with the PBM.

The Department will provide additional direction on the complaint process in future guidance.

Contact Us

Send an email to [email protected].