Pharmacy Benefits Managers

On this page, the Maine Bureau of Insurance provides all the information necessary to apply, renew, report, and update a Pharmacy Benefits Manager license.  Contact Us if you have questions or are unable to find what you are looking for.

IMPORTANT NOTICE:  The Maine Bureau of Insurance has revised the process for renewing, applying and updating a Pharmacy Benefits Manger license.

EFFECTIVE 1/1/2025:  ALL PBM INITIAL APPLICATIONS, TRI-ANNUAL RENEWAL AND ANNUAL REPORTING IN 2025 AND BEYOND, MUST BE FILED ELECTRONICALLY ON-LINE AT THE FOLLOWING LINK: ALMSOnline

Paper format, PDF/Zip File, or thumb-drive submissions will no longer be accepted. 

Entities MUST:  Initiate, Renew and Pay Online to apply or continue your license for three years. You will still receive your renewal notification, but Invoices will no longer be sent.

 

Pharmacy Benefits Managers must complete the application and requirements checklist in full on-line and attach properly executed fiduciary agreements.

 

Beginning 1/1/2025:


Pharmacy Benefits Mangers can apply for or renew a PBM license electronically at: ALMSOnline

General Instructions, Application and Checklist 

The Maine Bureau of Insurance is providing copies of what appears on the online application, checklist and corresponding General Instructions, so you can prepare all pertinent information and documentation prior to initiating your application online.  Please note these application requirement documents are not to be used as substitutions for the electronic forms online.

Fiduciary Agreement

Requesting Confidential Treatment of Documents

Renewal Information

A Pharmacy Benefits Manager (PBM) must renew its license every three years to continue to act as a PBM in this state. An applicant for renewal shall provide the same information as an applicant for initial licensing.

All renewal submissions for 2025 and beyond require a full and complete submission every three years.  In the past, entities were allowed to answer “no changes” or to the extent that the information is already on file from a previous application, the applicant was allowed to incorporate that information by reference if it attests that there have been no changes since it was originally submitted. 

Please provide a summary of all changes since the effective date of the entity's current license and/or the prior year's filing to continue its license for another year, or a red-lined version of the policies.

Annual Reporting Requirements

Effective Immediately:  Update License Information

Pharmacy Benefit Managers must also update the following license information on-line by clicking on the following link: ALMSOnline

  • Update license Information - Change your license information including your contact information, affiliations, responsible individual, Service of Process contact, and other company contacts as applicable.
  • General information Submittal - Select this option to upload information relating to changes in officers/owners and submission of material change reports.
  • Request a copy of my license -Individuals and Business Entities Only Select this option to retrieve a copy of your license.

Please include your Maine PBM License Number, NAIC Company Code (if applicable) and FEIN in all correspondence.  All contact information must be kept updated and at least within 2 months prior to renewal every 3 years to receive timely renewal notices via email. 

If you have any questions or issues with these services, please contact Violet Hyatt at violet.m.hyatt@maine.gov. 

Fees and Due Dates:

Initial License/Renewal Fee:  Pursuant to Title 24-A §601(28), Pharmacy Benefits Manager are required to submit the initial and renewal license fee of $100 made payable to: Treasurer, State of Maine.


Initial Fee due at application:  $100

Renewal and Fee Due Every three years:  $100

Late Fee: $25.00

Statutory Requirements

Title 24-A Chapter 56-C requires Pharmacy Benefits Managers to be licensed in Maine as of January 1, 2020 and comply with Rule 210.  PBM licenses are valid for 3 years and must be renewed.

The documents on this page are also available in hard copy by contacting the Bureau.