This bulletin repeals Bulletin No. 2023-001 dated January 3, 2023 and Bulletin No. 2023-035 issued on November 21, 2023.

This Bulletin applies to any Pharmacy Benefits Manager (PBM) operating in the State of New Mexico that is required to be licensed in New Mexico pursuant to the Pharmacy Benefits Manager Act, Sections 59A-61-1 et seq. NMSA. 1978 (the Act).

PBM Licensing

New and renewal applications for licensure will no longer be filed in SERFF. New and renewal applications will be handled through the Company Licensing Bureau. The application requirements may be found on the Company Licensing Bureau’s webpage:

https://osi.state.nm.us/en/insurance-professionals/company-licensing/applying-for-admission-applications/

The renewal and Annual Report will be submitted to the Company Licensing Bureau, not through SERFF. Annual Continuation of PBM License invoices will be sent the first week of January of every year. The fee for renewal is $500, for the annual report the fee is $200. Fees are due on or before March 1st of every year. Please note the license is perpetual and the OSI will not issue a new license upon renewal.

For complete content please see PDF below.

PHARMACY BENEFITS MANAGER APPLICATION FOR A LICENSE AND LICENSE RENEWAL IN NEW MEXICO