GA SB310

Requires pharmacy benefits managers (PBMs) operating in Georgia to obtain a license from the Commissioner of Insurance, with an initial filing fee of $500.00 and an annual renewal fee of $400.00, effective January 15, 2011

Applicants must maintain a minimum net worth of $200,000.00, a $100,000.00 surety bond, and at least $250,000.00 in errors and omissions or other appropriate liability insurance

Unlicensed entities acting as PBMs face monetary penalties of up to $1,000.00 per transaction, increasing to $5,000.00 per violation if the entity knew or should have known it was in violation; licensed PBMs violating the chapter face similar penalties plus up to one year of probation

PBMs operating as a line of business or affiliate of a licensed health insurer, health care center, or similar entity are exempt from the licensing requirement but must file an annual written notification with the Commissioner

PBMs are prohibited from engaging in the practice of medicine and are subject to Georgia's "Pharmacy Audit Bill of Rights" to the same extent as pharmacies