Tennessee HB1244 establishes prompt payment standards for pharmacy benefits managers and outlines penalties for non-compliance.
Tennessee HB1244 amends Tennessee Code to set forth prompt payment standards for pharmacy benefits managers. It mandates that pharmacy benefits managers pay clean claims within 30 days for paper submissions and 14 days for electronic submissions. Failure to meet these deadlines results in a 1% monthly interest charge on unpaid amounts. The bill also allows the commissioner to levy penalties for failing to process and pay clean claims, with escalating fines for lower compliance rates. The commissioner can issue cease and desist orders and seek injunctive relief for violations.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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