On Oct. 31, 2025, COL INS published a notice of hearing on a proposed amendment, which would extend the effective date from Nov. 15, 2025 to Jan. 30, 2026.
Virtual hearing will be held on Dec. 1, 2025 at 11 am; comments due by Dec. 4, 2025.
On Apr. 10, COL INS issued draft rule re pharmacy benefit managers
COL INS proposed amended Regulation 4-2-97 concerning the requirements for pharmacy benefit managers (PBMs) to register annually with Ins Division in Colorado.
PBM Applications
The proposed amendments allow a third-party vendor to review PBM applications and renewals as well as changes the application renewal timeline to a rolling 12 months.
Prior to doing business in Colorado, each PBM will complete registration application.
Also, complete annual attestation with PBM’s initial registration or renewal application.
Upon review, Division may decide to approve, deny, revoke, suspend, renew registration, and give PBM notice in writing data supporting the Division’s decision.
PBM will have the opportunity to submit written data, views, arguments re decision.
Commissioner may utilize a third-party vendor to process PBM applications/renewals.
Consultation
Comments on the draft proposed regulation must be submitted by Apr. 16. 2025.
Aug. 2025 COL INS Notice of Hearing
On Aug. 1, 2025, COL INS issued notice of hearing scheduled Sep. 2, 2025 at 1:00PM.
Aug. 10, 2025 COL INS Hearing Publication
On Aug. 10, 2025, COL INS published Reg 4-2-97 hearing notice in State register.
On Oct. 31, 2025, COL INS published a notice of hearing on a proposed amendment, which would extend the effective date from Nov. 15, 2025 to Jan. 30, 2026.
Virtual hearing will be held on Dec. 1, 2025 at 11 am; comments due by Dec. 4, 2025.
Regulators
COL INS
Entity Types
IB; Ins
Reference
Nt, 10/31/2025; PR, RF 4-2-97, 9/11/2025; COL SR Vol. 48 No. 15, RF 2025-00364, 8/10/2025; Nt, 8/1/2025; RF 4-2-97, 4/10/2025
Functions
Compliance; Legal; Record Retention; Registration/Licensing; Reporting
