MI| The Michigan Department of Insurance and Financial Services Bulletin 2025-20-INS provides a reminder to Pharmacy Benefit Managers (PBMs) of their statutory disclosure obligations during investigations under the Pharmacy Benefit Manager Licensure and Regulation Act (PBMLRA) and the Third Party Administrator Act (TPAA), emphasizing that PBMs must fully comply with DIFS requests for information, data, and documents, and noting that any such information obtained is confidential, proprietary, and not subject to Freedom of Information Act requests; failure to comply may result in administrative sanctions including fines, license suspension, or revocation, as outlined by the statutes referenced in the bulletin.
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