Request for Comment on DRAFT Proposed New Bulletin B-4.XX Licensing and Registration Guidance for Pharmacy Benefit Managers (PBMs) Operating in Colorado

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The Division is seeking comments on the following draft proposed new bulletin:

Section 10-16-122.1(2.5)(a), C.R.S., establishes that any Pharmacy Benefit Manager (PBM) doing business in Colorado must register with the Division of Insurance, including a PBM that is not directly connected with a carrier. This bulletin clarifies the requirements for PBM registration, including logistics, operational details, and the scope of enforcement under Section 10-16-122.1, C.R.S.

Please submit your comments on this draft proposed new bulletin no later than 5 PM, July 1, 2025 to DORA_INS_RulesandRecords@state.co.us.

This draft proposed new bulletin, as well as other draft regulations and bulletins currently released for informal public comment, can be found on the Division's DRAFT Regulations and Bulletins for Informal Public Comment website.

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