Insurance License Hub

The Alaska Pharmacy Benefits Manager license

Pharmacy Benefits Manager

Administers pharmacy benefits for an insurer. No examination, a duty of care written into the statute, and at $20,000 to issue and $20,000 again every two years to renew. AS 21.27.905(a) sets both figures and the fee regulation has not caught up: 3 AAC 31.020(a)(5) still prices the registration at $300.

Course

None

This license has no pre-licensing course route.

Ways in

1

There is no state exam for this license.

Exam

n/a

Not required on any of the routes below.

Every way to qualify

  1. Route 1 File the organizational documents, the accountant’s certificate and a compliance officer

    No state exam for this license

    • The identity, professional history, experience and background of every owner, officer, director and partner, any administrative action or financial industry sanction against them, any criminal prosecution with the complaint and calendaring order, a designated compliance officer with their own background history, the organizational and internal governing documents, an Alaska agent for service of process, and certified financial statements for the preceding two years prepared by an independent certified public accountant establishing solvency

    AS 21.27.901(a) requires the license and AS 21.27.903 lists what the application carries. There is no examination: AS 21.27.060(d)(3) excuses the compliance officer of a pharmacy benefits manager along with that of a third-party administrator, and the two licenses are qualified almost identically, on organizational documents and an independent accountant’s certificate of solvency. Alaska licenses this at the insurance division where Rhode Island is moving it out: from 2027-01-01 a Rhode Island pharmacy benefits manager is certified by the Office of the Health Insurance Commissioner instead, which is a different regulator. The fee is one of the largest on this site and Massachusetts prices the same license higher, at $25,000: AS 21.27.905(a) sets $20,000 to issue and $20,000 to renew biennially. 3 AAC 31.020(a)(5) still prices a pharmacy benefits manager registration at $300, and the same subsection still calls it a registration where the statute calls it a license; 3 AAC 23.093 is headed "Pharmacy benefits manager registration" too. The statute is the later enactment and the higher authority. AS 21.27.907 then does something no other license here does: it writes a duty of care into the licensing chapter, owed to the plan sponsor, the benefits administrator and the covered person, and says in terms that the duty owed to the covered person takes precedence over the duty owed to anybody else.

    Read at the Department on 2026-08-21

No national seller sells a course for this license. Nothing could: Alaska excuses this license from the examination by name and qualifies it on organizational documents and an accountant’s certificate of solvency.