Licensing Requirements for Pharmacy Benefit Managers

Title: Licensing Requirements for Pharmacy Benefit Managers

Brief Summary of Rule: following passage of Act 127 in 2024, the Department of Financial Regulation was directed to adopt rules to establish the licensing application, financial and reporting requirements for Pharmacy Benefit Managers (PBMs). The rule is sets forth the procedural process for obtaining a pharmacy benefit license in Vermont.

Effective Date: May 19, 2025 • A Rule may take effect 15 days after adoption is complete or at a later time provided in the text of the Rule. See 3 V.S.A. §845(d) for details.