Nebraska proposal sets license rules for producers and pharmacy benefit managers

The director would issue a nonresident producer license to an applicant who meets the listed requirements, unless the application is denied under the law. This applies to people applying for a Nebraska nonresident insurance producer license. The applicant must hold an active resident license in good standing, submit an application and pay the required fees, and come from a state that licenses Nebraska residents on the same basis.

A pharmacy benefit manager would have to submit its renewal application and fee, and could face fines or license suspension if it misses the deadline. This applies to pharmacy benefit managers licensed to do business in Nebraska. The director may grant up to 30 extra days for good and sufficient cause, without the fine or suspension described here. The renewal application and fee are due at least 30 days before the anniversary of the manager’s initial or most recent license. Suspension begins if renewal is still missing on the anniversary.

A pharmacy benefit manager would have to notify the director immediately about certain changes. This applies to pharmacy benefit managers licensed to do business in Nebraska. Notice is required for a material change in ownership or control, or another fact or circumstance that affects the manager’s qualifications for a Nebraska license. Notice is due immediately when a covered change occurs.