MS SB2677

Expands the Pharmacy Benefit Prompt Pay Act to extend through Section 73-21-169 and adds new definitions including "clean claim," "network pharmacy," "PSAO," "spread pricing," and "wholesale acquisition cost."

Requires pharmacy benefit managers to pay clean electronic claims within 7 days and paper claims within 35 days, with interest penalties of 1.5% monthly for late payments and establishes 95% on-time payment standards.

Prohibits spread pricing by pharmacy benefit managers, PSAOs, carriers and health plans; requires full disclosure of rebates and other payments from pharmaceutical manufacturers to plan sponsors.

Prohibits pharmacy benefit managers from steering patients to affiliate pharmacies, penalizing patients for non-affiliate pharmacy use, or restricting in-network pharmacies through network exclusions or accreditation standards.

Requires drug manufacturers to report wholesale acquisition cost information quarterly to the Board of Pharmacy, and mandates PBMs and PSAOs to report rebates, fees, and drug pricing data; creates new sections for licensing PSAOs, investigating violations, and publishing pricing information on a board website.