PBM Registration/Generic Drug Pricing Transparency/Pharmacy Audit Integrity/PACE Reimbursement
Requires Pharmacy Benefit Managers (PBMs) to register with the Department of Insurance; (Effective February 19, 2017)
Provides for greater transparency in the establishment and management of multiple source generic lists to pharmacies; (Effective May 20, 2017)
Provides for uniform and fair standards in the auditing of pharmacy claims (Effective May 20, 2017); and
Rebalances PACE reimbursement to National Average Drug Acquisition Cost (NADAC) + a $13 professional dispensing fee or Wholesale Acquisition Cost (WAC) +3.2% (when NADAC is not available). (Effective November 21, 2016)
Summary of Key Provisions
A summary of the key provisions of Act 169 of 2016 can be found here.