Michigan
Michigan Issues Bulletin Regarding Pharmacy Benefit Manager Registration
Effective January 1, 2024, Michigan will license and regulate Pharmacy Benefit Managers. See attachment for more details.
On November 30, 2023, Michigan issues update to original regulation notice regarding Pharmacy Benefit Managers to include more details on application process an fee. The fee for an initial application for a Pharmacy Benefit Manager (PBM) license submitted between January 1, 2024 and December 31, 2026 is $5,000.00.
See attachment #2 for more details.
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analyzed
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This update has been reviewed by AgentSync compliance experts for industry impact and necessary automation in the AgentSync platform.
categories
Licensing
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The date the update takes effect.
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This means an AgentSync product was updated as a result of this change and the update is now live in our product(s).