MISSISSIPPI BILL SPEEDS UP PHARMACY REIMBURSEMENT
Published Online: Monday, May 1, 2006 [ ]
The passing of Mississippi House Bill 542 was met with
praise from the National Community Pharmacists
Association. The law includes provisions to guarantee
prompt payment of health insurance claims to pharmacists
by pharmacy benefit managers (PBMs). The legislation,
which goes into effect on June 30, 2006, amends the
Mississippi Pharmacy Practice Act. It will require that
PBMs do the following:
- File financial statements with the state insurance
- Use a nationally recognized reference in pricing calculations
when reimbursing pharmacies and update
that reference no less than every 3 business days
- Pay clean claims that are filed electronically within 15
days (paper claims no later than 35 days)
The Board of Pharmacy will monitor PBMs for compliance
with the law and has the power to subject them to
administrative penalties for noncompliance.
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