Bill > HB1620

This bill, known as the "Pharmacy and Pharmacist Timely Reconciliation and Payment of Pharmacist Services Act," aims to improve the pharmacy claims process and regulate pharmacy benefits managers (PBMs) in Arkansas. The bill establishes new requirements for processing and paying pharmacy claims, including mandating that PBMs pay clean claims (electronically submitted claims without defects) within 7-14 days and paper claims within 30 days. If claims are not paid or contested within specified timeframes, they are automatically considered clean claims. The legislation introduces penalties of 12% per month for late payments, with some exceptions for extraordinary circumstances like natural disasters. The bill also expands the definition of PBMs, creates new definitions for terms like "clean claim" and "prescription validation request," and requires pharmaceutical manufacturers to ensure timely payment of claims through their vendors or intermediaries. Additionally, the bill extends the Arkansas Pharmacy Audit Bill of Rights to the Arkansas Medicaid Program and aims to support patient access to prescription drugs by providing more stable and predictable payment processes for pharmacies and pharmacists.

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https://arkleg.state.ar.us/Bills/Detail?id=hb1620&ddBienniumSession=2025%2F2025R