S.4692

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

This bill sets standards for timely payment of clean claims by pharmacy benefits managers in New Jersey. It mandates that a pharmacy benefits manager must issue payment for a clean claim within seven to 14 days if submitted electronically, or within 30 days if submitted on paper. A clean claim is defined as one with no defects or improprieties. The bill also requires pharmacy benefits managers to notify pharmacies of any issues with a claim within 10 days for electronic submissions and 15 days for paper submissions.