Insurance, Health, Accident - As introduced, prohibits a pharmacy benefits manager from reimbursing a contracted pharmacy for a prescription drug or device or a pharmacy service in an amount that is less than the greatest of certain listed amounts and makes other related changes. - Amends TCA Title 8, Chapter 27; Title 56, Chapter 7 and Title 71, Chapter 5.

HB 2332 requires pharmacy benefits managers (PBMs) to reimburse contracted pharmacies for prescription drugs or services at no less than the highest of four specified amounts: the pharmacy’s actual cost, 105% of the national average drug cost (NADAC), the wholesale acquisition cost (WAC), or the amount the PBM pays itself for the same item. This directly affects independent pharmacies that contract with PBMs, ensuring they receive fairer compensation for dispensing medications. The bill establishes an appeal process for pharmacies disputing low reimbursements and mandates that PBMs pay double the owed amount if they fail to meet the required rate, with adjustments required within 14 days of a successful appeal. It also prohibits PBMs from deducting dispensing fees from reimbursement calculations.