The Vermont Statutes Online
Subchapter 009 : Pharmacy Benefit Managers(Cite as: 18 V.S.A. § 9473)
§ 9473. Pharmacy benefit managers; required practices with respect to pharmacies
(a) Within 14 calendar days following receipt of a pharmacy claim, a pharmacy benefit manager or other entity paying pharmacy claims shall do one of the following:
(1) Pay or reimburse the claim.
(2) Notify the pharmacy in writing that the claim is contested or denied. The notice shall include specific reasons supporting the contest or denial and a description of any additional information required for the pharmacy benefit manager or other payer to determine liability for the claim.
(b) A pharmacy benefit manager or other entity paying pharmacy claims shall not:
(1) impose a higher co-payment for a prescription drug than the co-payment applicable to the type of drug purchased under the insured's health plan;
(2) impose a higher co-payment for a prescription drug than the maximum allowable cost for the drug;
(3) require a pharmacy to pass through any portion of the insured's co-payment to the pharmacy benefit manager or other payer;
(4) prohibit or penalize a pharmacy or pharmacist for providing information to an insured regarding the insured's cost-sharing amount for a prescription drug; or
(5) prohibit or penalize a pharmacy or pharmacist for the pharmacist or other pharmacy employee disclosing to an insured the cash price for a prescription drug or selling a lower cost drug to the insured if one is available.
(c) For each drug for which a pharmacy benefit manager establishes a maximum allowable cost in order to determine the reimbursement rate, the pharmacy benefit manager shall do all of the following:
(1) Make available, in a format that is readily accessible and understandable by a pharmacist, the actual maximum allowable cost for each drug and the source used to determine the maximum allowable cost.
(2) Update the maximum allowable cost at least once every seven calendar days. In order to be subject to maximum allowable cost, a drug must be widely available for purchase by all pharmacies in the State, without limitations, from national or regional wholesalers and must not be obsolete or temporarily unavailable.
(3) Establish or maintain a reasonable administrative appeals process to allow a dispensing pharmacy provider to contest a listed maximum allowable cost.
(4) Respond in writing to any appealing pharmacy provider within 10 calendar days after receipt of an appeal, provided that a dispensing pharmacy provider shall file any appeal within 10 calendar days from the date its claim for reimbursement is adjudicated. (Added 2013, No. 144 (Adj. Sess.), § 14; amended 2015, No. 54, § 3, eff. June 5, 2015; 2017, No. 193 (Adj. Sess.), § 11.)