2015 Kentucky Revised Statutes
CHAPTER 304 - INSURANCE CODE
Subtitle 17A - Health Benefit Plans
17A.17A-161 Definitions for KRS 304.17A-161 and 304.17A-162.

Download as PDF 304.17A-161 Definitions for KRS 304.17A-161 and 304.17A-162. As used in this section and KRS 304.17A-162, unless the context requires otherwise: (1) "Contracted pharmacy" or "pharmacy" means a pharmacy located in Kentucky participating in the network of a pharmacy benefit manager through a direct contract or through a contract with a pharmacy services administration organization or group purchasing organization; (2) "Drug product reimbursement" means the amount paid by a pharmacy benefit manager to a contracted pharmacy for the cost of the drug dispensed to a patient and does not include a dispensing or professional fee; and (3) "Pharmacy benefit manager" means an entity that contracts with pharmacies on behalf of a health benefit plan, state agency, insurer, managed care organization, or other third-party payor to provide pharmacy health benefit services or administration. Effective: June 25, 2013 History: Created 2013 Ky. Acts ch. 109, sec. 1, effective June 25, 2013.