Insurance License Hub

The Oklahoma Pharmacy Benefit Manager license

Pharmacy Benefit Manager

Administers prescription drug benefits for an insurer or another payer. The Insurance Department still licenses it even though the Attorney General took over enforcing the act behind it in 2023, and its bond is set by how many Oklahomans the manager covers.

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 Apply for the manager license

    No state exam for this license

    The bond, sized by covered lives

    • A surety bond filed before the license issues and kept in force, in a penal sum OAC 365:25-29-6 bands by annual Oklahoma covered lives: $50,000 up to 5,000 lives, $100,000 to 10,000, $250,000 to 25,000, $500,000 to 50,000, $750,000 to 100,000, and $1,000,000 above that. It may be cancelled only on thirty days' written notice to the principal and the Commissioner.

    and the application

    • An application on the Commissioner's form with a $1,000 fee, the identity of the manager and of anybody controlling it, the officers and directors, a certificate of incorporation, a certificate of good standing where the manager is domiciled outside Oklahoma, a report of any disciplinary action, the agent for service of process, the number of covered lives served under all its Oklahoma contracts, audited financial statements for the last fiscal year, and an executive officer's certificate that the filing is accurate.

    OAC 365:25-29-5 is the application and 365:25-29-6 the bond. There is no examination, no course and no individual qualification anywhere in the subchapter: everything it asks about is the company. The license runs no longer than twelve months from the month of issue and renews at $500 under 365:25-29-7, with a $1,000 reinstatement fee inside the year after it expires and a fresh application after that. The Department's own page carries the jurisdictional split that happened underneath this license: from 2023-11-01 the Attorney General enforces the Patient's Right to Pharmacy Choice Act, and "Licensing Regulation will remain under the jurisdiction of the Insurance Department". 36 O.S. 6960 and following is the act itself and 36 O.S. 307.6 is the revolving fund the license fees pay into.

    Read at rules.ok.gov on 2026-08-19

The Oklahoma products sellers do carry are all for a producer line or for the adjuster; Aceable sells nothing in Oklahoma at all. Oklahoma asks for no course here and its examination vendor publishes no paper for this license, so there is nothing to sell.