New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 4 - ACTUARIAL SERVICES
Subchapter 62 - PHARMACY BENEFITS MANAGERS
Section 11:4-62.6 - Penalties

Universal Citation: NJ Admin Code 11:4-62.6

Current through Register Vol. 56, No. 6, March 18, 2024

(a) Failure to comply with the terms of this subchapter shall result in the imposition of penalties as authorized by law.

(b) A pharmacy benefits manager that fails to file a certificate of compliance as required by N.J.A.C. 11:4-62.5 may, after notice and opportunity for a hearing, be subject to a penalty of up to $ 1,000 for each violation.

(c) A pharmacy benefits manager that fails to comply with the requirements of N.J.S.A. 17B:27F-1 et seq., or N.J.A.C. 11:4-62.3 and 62.4 may, after notice and opportunity for a hearing, be subject to a penalty of not less than $ 5,000 or more than $ 10,000 for each violation.

(d) Penalties shall be imposed in accordance with the procedures set forth in N.J.A.C. 11:17D.

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