Connecticut pharmacy benefits manager bonds.
From $250.
A pharmacy benefits manager must register with the Connecticut Insurance Department under C.G.S. 38a-479bbb, and the registration requires a surety bond sized to its Connecticut claims volume. Priced at 1% of the bond amount — enter your required amount to see your exact price at the application.
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How much does a Connecticut pharmacy benefits manager bond cost?
1% of the bond amount, from $250 at the $25,000 minimum. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No underwriting queue for the standard PBM bond — enter your amount, pay, and file with the Insurance Department. Here is the whole thing:
Apply online
Your organization details, the bond amount your registration requires, and the effective date — that is the application.
Issued on the spot for most
No credit check up to $50,000, and most applicants are approved and issued the moment they pay. Above $50,000, a soft pull may add a short review.
File with the Insurance Department
Submit the executed bond with your PBM certificate of registration application. Wet-ink originals mailed whenever the department insists.
What it is and who needs it.
What the PBM bond actually guarantees
A pharmacy benefits manager administers prescription-drug benefits for health plans — processing claims, building pharmacy networks, and negotiating with manufacturers. Connecticut requires a PBM to hold a certificate of registration from the Insurance Department under C.G.S. 38a-479bbb, and conditions registration on a surety bond.
The bond is sized to the PBM’s Connecticut footprint: 10% of one month of claims paid in this state on a twelve-month average, but not less than $25,000 nor more than $1,000,000. It stands behind the PBM’s compliance with Connecticut law and its obligations to the plans and pharmacies it works with.
It is not insurance for you — if a valid claim is paid, you repay the surety. The registration is renewed annually (it expires December 31 if requirements are not met), so the bond must stay active. We issue the amount your registration requires; no credit check up to $50,000, and premiums start from $250.
You need this bond if you are
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with the Insurance Department. Submit the executed bond with your PBM certificate of registration application. Wet-ink originals mailed whenever the department insists.
What sets the price
The premium is 1% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $50,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued on the spot.
Submit the application with the bond amount your registration requires — the executed bond is generated instantly, ready to file with the Insurance Department.
Start the application →Common questions.
Other Connecticut bonds.
Price and requirements checked on the carrier’s application, . Page updated .
PBM bond, issued today.
Premiums from $250. Enter your required amount and file with the Insurance Department the same day.