Pharmacy Benefit Managers (PBMs)

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New S.C. Pharmacy Benefit Manager Law Passes

On May 16, 2019, Governor McMaster signed bill S.359 (Act No. 48), amending the South Carolina Code of Laws by adding Article 21 to Title 38, Chapter 71 (Accident and Health Insurance).  Act No. 48 establishes, among other things, a license requirement for pharmacy benefit managers and authorizes the Department of Insurance to enforce the provisions of Article 21.

S.C. Code Ann. Regulation 69-77 (Pharmacy Benefit Managers) became final on June 26, 2020. The South Carolina Department of Insurance is charged with the responsibility of enforcing the provisions set forth in this Regulation.  
  
*All PBMs conducting pharmacy benefit manager services in South Carolina beginning January 1, 2021 must be licensed as a PBM.

PBM License Renewal:


Pharmacy Benefit Managers must renew their license annually to continue to operate and be in compliance with Section 38-71-2210 of the SC Code of Laws, as amended.                                                                                                                                                           

 PBM License Renewal Period for licenses expiring by March 1, 2022.  
 Application Window Begins                                                                                                                   December 1, 2021 
 Application Window Closes                                                                                                                    February 15, 2022







For additional details, please refer to the full text of the bulletin by clicking here.