HI HB2584

Establishes reimbursement rates for prescription drugs under motor vehicle insurance personal injury protection (PIP) benefits at 140% of the average wholesale price as set by the original manufacturer and published in the Medi-Span Master Drug Database on the date of dispensing.

Allows insurers to contract directly with providers for lower reimbursement amounts than the 140% standard rate.

Requires generic drug substitution for brand name drugs unless the prescribing physician certifies that the patient's condition does not tolerate a generic alternative.

Sets reimbursement for compounded medications at 140% of the combined average wholesale price by gram weight of each underlying prescription drug in the compound, using the original manufacturer's pricing from the Medi-Span database.

Takes effect July 1, 2112.