Michigan Laws 550.927 – Disclosure of current selling prices; prohibited contract provisions
Current as of: 2024 | Check for updates
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Terms Used In Michigan Laws 550.927
- Carrier: means an insurer, including a health maintenance organization, regulated under the insurance code of 1956, 1956 PA 218, MCL 500. See Michigan Laws 550.902
- Contract: A legal written agreement that becomes binding when signed.
- manager: means an individual responsible for conducting the daily operations of a third party administrator. See Michigan Laws 550.902
- Pharmacy: means that term as defined in section 17707 of the public health code, 1978 PA 368, MCL 333. See Michigan Laws 550.902
A contract between a carrier or third party administrator that is a pharmacy benefit manager and a pharmacy must not prohibit the pharmacy from disclosing the current selling price of a drug in accordance with section 17757 of the public health code, 1978 PA 368, MCL 333.17757. This section applies to a contract described in this section executed, extended, or renewed on or after the effective date of the amendatory act that added this section.