Bill > SB0881

This bill amends Tennessee's laws regarding Pharmacy Benefits Managers (PBMs), which are companies that manage prescription drug benefits for health insurers. The bill makes several key changes: first, it modifies existing language to subject PBMs to specific sanctions described in another section of Tennessee code, with a new provision explicitly addressing violations by PBMs; second, it establishes a new section requiring PBMs to comply with prompt payment standards when reimbursing pharmacists, specifically referring to existing regulations in § 56-7-109 that govern the timing of payments. The bill also clarifies that violations of these prompt payment standards will be governed by the penalties outlined in the referenced section, rather than creating new penalties. Additionally, the bill includes a provision stating that the headings in the act are for reference only, and it will take effect immediately upon becoming law, applying to conduct occurring on or after its effective date. The overall intent appears to be increasing accountability and standardizing the regulations surrounding PBM practices in Tennessee.

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https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB0881&ga=114