SB0881

SB0881 amends Tennessee Code to establish prompt payment standards for pharmacy benefits managers.

SB0881 amends Tennessee Code to establish prompt payment standards for pharmacy benefits managers. The bill mandates that pharmacy benefits managers must pay clean claims within 30 days for paper claims and 14 days for electronic claims. A clean claim is defined as one that requires no further information, adjustment, or alteration by the provider to be processed and paid. The commissioner may levy penalties for failure to meet these standards, with the amount depending on the percentage of clean claims not properly processed and paid.