Amends TCA Title 56.
Tennessee HB1244 amends the Tennessee Code Annotated Title 56 to enhance regulations on pharmacy benefits managers (PBMs) by removing aggregate penalty limits for violations and establishing prompt payment standards for claims. The bill affects PBMs and healthcare providers by mandating timely payments for clean claims and imposing penalties for non-compliance. Key provisions include specific timelines for payment, notification requirements for claim denials, and regulatory oversight by the commissioner of commerce and insurance.
Tennessee HB1244 amends the Tennessee Code Annotated Title 56 to enhance regulations on pharmacy benefits managers (PBMs) by removing aggregate penalty limits for violations and establishing prompt payment standards for claims. The bill affects PBMs and healthcare providers by mandating timely payments for clean claims and imposing penalties for non-compliance. Key provisions include specific timelines for payment, notification requirements for claim denials, and regulatory oversight by the commissioner of commerce and insurance.
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