HB 1119 Summary

• Renames the "Pharmacy Benefit Prompt Pay Act" to the "Representative Andy Stepp Pharmacy Benefit Prompt Pay Act"

• Requires pharmacy benefit managers to reimburse in-network pharmacies at the National Average Drug Acquisition Cost (NADAC) plus the Mississippi Division of Medicaid's professional dispensing fee, with payment due within 7 days for electronic claims and 35 days for paper claims

• Mandates pharmacy benefit managers provide reasonable administrative appeals processes for pharmacies to challenge reimbursement rates below NADAC levels, with 30-day filing periods and response timelines

• Prohibits pharmacy benefit managers from steering patients to affiliate pharmacies, penalizing patients for choosing non-affiliate pharmacies, or restricting in-network pharmacies' ability to fill prescriptions

• Establishes licensing requirements for pharmacy services administrative organizations and prohibits retaliation against pharmacists or pharmacies for exercising rights under the act; authorizes the Board of Pharmacy to conduct audits and issue subpoenas during investigations