The Division of Insurance licenses and regulates pharmacy benefit managers (PBMs) in the Commonwealth of Massachusetts.
In accordance with M.G.L. c. 176Y, enacted pursuant to Chapter 342 of the Acts of 2024, the Division of Insurance is charged with the licensure and regulation of PBMs in the Commonwealth. Consistent with its authority, the Division licenses and regulates PBMs in a manner that appropriately safeguards Massachusetts consumers.
PBM Licensure Requirement
All PBMs and entities seeking to operate as PBMs in the Commonwealth of Massachusetts must be licensed beginning on January 1, 2026.
Bulletin 2025-04 and Initial License Application
Unless licensed by the Division of Insurance, no person, business, or other entity is permitted to operate as a PBM in Massachusetts.
The Division is implementing PBM licensure in stages. To begin, all PBMs and entities seeking to operate as PBMs in the Commonwealth of Massachusetts must obtain an initial, one-year license issued by the Division by January 1, 2026. Initial license applications must be submitted to the Division pursuant to M.G.L. c. 176Y and Bulletin 2025-04 by October 15, 2025.
