Pharmacy Benefits Managers (PBMs)

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Articles 18, 21 and 23 of Chapter 71 of Title 38  of the South Carolina Code of Laws defines the regulations and requirements for a Pharmacy Benefits Managers (PBMs), Pharmacy Services Administrative Organizations (PSAOs), and Pharmacy Audit Rights in South Carolina. The South Carolina Department of Insurance is charged with the responsibility of enforcing the provisions of these statutes. 

 

 

Amendments to the Regulations for S.C. Pharmacy Benefits Managers

 

Regulation 69-77 has been amended to implement that portion of Act No. 30 of 2023 providing for external review of certain Pharmacy Benefit Manager (PBM) decisions and PBM operations. The amendments, which are effective as of May 24, 2024: 1) establish the procedures for the approval of independent review organizations (IROs) and the initiation and conduct of PBM-related external reviews, 2) prescribe certain recordkeeping and reporting requirements for IROs conducting those reviews, 3) provide for regular, periodic examinations of PBMs beginning in 2025, and 4) effectuate other changes regarding the regulation of PBMs. Please find below the Bulletin and applicable documents related to these amendments:

  1. Bulletin 2024-03
  2. SC Code Ann. Regulation 69-77 pertaining to PBMs
  3. Application for IROs not currently approved by the Department of Insurance
  4. Amended Application for Existing IRO’s seeking approval to conduct PBM-related external reviews
  5. Pharmacy External Review Request Form
PBM License Renewal Period for licenses expiring by March 1, 2026. 
 Application Window Begins                                                                                            December 1, 2025
 Application Window Closes                                                                                                February 15, 2026


NOTICE OF PBM DATA CALL