191—59.3 (510B) Timely payment of pharmacy claims.
	   59.3(1) All benefits payable under a pharmacy benefits management plan shall be paid as soon as feasible but within 20 days after receipt of a clean claim when the claim is submitted electronically and shall be paid within 30 days after receipt of a clean claim when the claim is submitted in paper format.
	   59.3(2) Payments to the pharmacy for clean claims are considered to be overdue and not timely if not paid within 20 or 30 days, whichever is applicable. If any clean claim is not timely paid, the pharmacy benefits manager must pay the pharmacy interest at the rate of 10 percent per annum commencing the day after any claim payment or portion thereof was due until the claim is finally settled or adjudicated in full.
	   59.3(3) Pharmacy benefits managers may demonstrate the date a claim is paid by a mail record or a bank statement.
[ARC 1466C, IAB 5/28/14, effective 7/2/14]