MS HB1674

Requires pharmacy benefit managers (PBMs) to obtain a license from the State Board of Pharmacy before operating in Mississippi and file annual financial statements by March 1.

Establishes requirements for PBM maximum allowable cost lists, including that listed drugs must be available from wholesalers in Mississippi and lists must be updated within three calendar days.

Creates an administrative appeal process allowing pharmacies to challenge reimbursements below acquisition cost, with PBMs required to respond within 30 business days.

Prohibits PBMs from reimbursing pharmacies less than they reimburse their own affiliated pharmacies for the same services.

Authorizes the Board of Pharmacy to impose monetary penalties of $1,000 to $25,000 per violation for PBM noncompliance, with each day of continued violation counted separately.