MS HB1672

Requires pharmacy benefit managers (PBMs) and pharmacy services administrative organizations (PSAOs) to reimburse pharmacies at a rate no less than either what PBM affiliates receive or the Mississippi Medicaid pharmacy reimbursement rate.

Prohibits spread pricing by PBMs and PSAOs, which is charging health plans more than the actual amount paid to pharmacies for dispensing prescription drugs.

Requires PSAOs to be licensed by the State Board of Pharmacy, with annual license renewals required for both PBMs and PSAOs.

Prohibits PBMs from holding retail pharmacy permits, preventing vertical integration between pharmacy benefit management and retail drug sales.

Adds the Executive Director of the State Board of Pharmacy to the State and School Employees Health Insurance Management Board and requires the state health plan's PBM to comply with the Pharmacy Benefit Prompt Pay Act.