Establishes standards for timely payment of clean claims by pharmacy benefits managers in New Jersey.

This bill establishes standards for the timely payment of clean claims made by a pharmacy to a pharmacy benefits manager. It requires pharmacy benefits managers to issue payment for clean claims within seven to 14 days if submitted electronically and within 30 days if submitted on paper. If a pharmacy benefits manager fails to notify a pharmacy of any defects or improprieties within the specified time frames, the claim is considered clean and must be paid.

Establishes standards for timely payment of clean claims by pharmacy benefits managers in New Jersey.

This bill establishes standards for the timely payment of clean claims made by a pharmacy to a pharmacy benefits manager. It requires pharmacy benefits managers to issue payment for clean claims within seven to 14 days if submitted electronically and within 30 days if submitted on paper. If a pharmacy benefits manager fails to notify a pharmacy of any defects or improprieties within the specified time frames, the claim is considered clean and must be paid.