NM| The New Mexico Office of Superintendent of Insurance has issued Bulletin 2025-011, which repeals prior Bulletins 2023-001 and 2023-035 and updates the process for Pharmacy Benefit Manager (PBM) licensing and compliance. PBM license applications and renewals must now be filed with the Company Licensing Bureau rather than through SERFF, and annual renewal fees ($500) and report fees ($200) are due by March 1 each year. Compliance reporting, however, remains in SERFF, with specific required documentation and a compliance deadline of June 1 annually; confidentiality for filings may be requested if desired.
Key Points:
- PBM licensing applications and renewals are now submitted to the Company Licensing Bureau, not in SERFF; annual renewal and report fees apply, with invoices sent in January and fees due by March 1
- PBM annual compliance reports, including required attestations and documentation, remain filed in SERFF by June 1, and confidentiality requests must be made during filing to avoid public disclosure.