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.

This bill requires Tennessee pharmacy benefits managers (PBMs) to reimburse pharmacies for prescription drugs at the highest of four specified amounts: the pharmacy's actual cost, 105% of the national drug cost average, the wholesale drug price, or the rate paid to their own affiliates. Pharmacies can appeal underpayments to the Department of Commerce and Insurance, and PBMs must pay double the owed amount if they fail to comply with the reimbursement minimums. The law directly affects independent pharmacies and PBMs by establishing enforceable payment standards and penalties for noncompliance, while prohibiting PBMs from deducting dispensing fees from reimbursements.