Mich. Admin. Code R. 500.34 - License renewal schedule; license renewal fee

Rule 4.

(1) To renew an existing license for an additional 2 years, a pharmacy benefit manager shall file the materials required under this rule and section 11(10) of the act, MCL 550.821, no later than July 1 of the second calendar year after the calendar year in which the pharmacy benefit manager either first obtained or last renewed the existing license.

(2) A license expires if the pharmacy benefit manager fails to submit a complete renewal filing by the date established in subrule (1) of this rule. If a license expires under this subrule, the pharmacy benefit manager shall not operate in this state as a pharmacy benefit manager without first obtaining a new license through the process in R 500.33. On request and for good cause shown, the director may grant to a pharmacy benefit manager a reasonable extension of time not to exceed 30 days within which the renewal materials must be filed.

(3) A renewal filing is incomplete if the director determines that it does not contain a completed application and renewal schedule and full payment of the nonrefundable license renewal fee that is established by the director.

(4) A renewal application or a renewal schedule is not complete unless the licensee fully and accurately provides all the information and materials requested on any form provided by the director. The director has discretion to revise any form that the director provides under this subdivision.

(5) The director may establish the amount of the nonrefundable license renewal fee by bulletin. The director shall not adjust the license renewal fee more than once per year.

(6) A renewal filing is incomplete if the director determines that the renewal filing does not contain a retail pharmacy benefit manager network adequacy report, as required under section 17 of the act, MCL 550.827.

Notes

Mich. Admin. Code R. 500.34

2023 MR 24, Eff. 1/2/2024