OK PBM bonds — $1M tier.
$30,000 flat. Soft pull.
Oklahoma conditions a pharmacy benefits manager license on a surety bond filed with the Insurance Commissioner. The amount is set by your Oklahoma covered lives — the top $1,000,000 tier applies to PBMs covering more than 100,000 lives. Ours is $30,000 flat, soft pull only.
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Three steps to licensed.
Your PBM license is waiting on this bond. Here's the entire process:
Apply once, online
Business details, your number of Oklahoma covered lives, and an effective date — plus a one-time consent to a soft credit pull.
Reviewed & approved
The top PBM tier gets an underwriter review; you typically hear back within 48 hours. The credit check is a soft pull that never affects your score.
E-sign & file with the Insurance Department
Pay online and receive the executed bond ready to file with your PBM license application or renewal. Wet-ink originals mailed whenever the Department insists.
The whole pricing page.
$1,000,000 bond × 3% = $30,000, one-time per term. Your covered-lives band sets the amount; the rate is a flat 3%.
What it is and who needs it.
What the PBM bond actually guarantees
A pharmacy benefits manager administers prescription-drug benefits for health plans, and Oklahoma licenses PBMs through the Insurance Department. Before a license issues, the PBM files a surety bond conditioned on conformity with the laws governing PBMs — including the Patient's Right to Pharmacy Choice Act and the Pharmacy Audit Integrity Act.
The bond amount is tiered by your annual Oklahoma covered lives. The top $1,000,000 tier applies to PBMs covering more than 100,000 lives — the largest PBMs operating in the state. The bond is for the benefit of the parties those statutes protect — pharmacies, patients, and the State.
It is a three-party guarantee, not insurance for you: if the surety pays a claim, you repay the surety. The bond must stay in effect for the life of the license, and the surety must give the Commissioner 30 days' written notice before cancellation. This is the highest statutory tier; confirm your covered-lives count if you are near the 100,000-life line.
You need this bond if you are
Five minutes. The whole thing.
These are the actual underwriting fields, including your covered-lives count and a one-time soft credit pull. Submit once and the bond is typically issued within 1–2 business days.
Start the application →Common questions.
If yours isn't here, the bond team can usually answer within the hour.
Why is this bond $1,000,000? +
How much is the premium? +
Do I pay the $1,000,000? +
Is there a credit check? +
What if my covered lives are below 100,000? +
Other New York bonds.
Your PBM license is waiting on one bond.
$30,000 flat, five-minute application, soft pull only. E-signed bond in 1–2 business days. Free until issued.