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TN HB1244
Bill
Status
5/15/2025
Primary Sponsor
Brock Martin
Click for details
AI Summary
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Pharmacy benefits managers (PBMs) are now subject to prompt pay requirements under § 56-7-109, which governs the timing of payments to pharmacists for health insurance claims
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Violations of prompt pay standards by PBMs are governed by the penalties in § 56-7-109 rather than other penalties in the PBM regulatory part
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PBM violations are added as a new category under § 56-2-305(c)(7), modifying the sanctions framework applicable to PBMs
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The act took effect immediately upon Governor Bill Lee's approval on May 9, 2025, and applies to conduct occurring on or after that date
Legislative Description
AN ACT to amend Tennessee Code Annotated, Title 56, relative to pharmacy benefits managers.
Insurance, Health, Accident
Last Action
Comp. became Pub. Ch. 446
5/15/2025