A report to the plan is due at least every six months
What the document says“not less frequently than every 6 months (or, at the request of a group health plan, not less frequently than quarterly, and under the same conditions, terms, and cost of the semiannual report under this subsection), shall submit to the group health plan a report in accordance with this section.”
For plan years beginning on or after the effective date, an entity providing pharmacy benefit management services under a contract entered, extended or renewed on or after that date must report to the group health plan at least every six months, or quarterly at the plan's request on the same terms and cost. Each report must be in plain language, in a machine-readable format, and in such other formats as the Secretary determines.
What the document actually says“not less frequently than every 6 months (or, at the request of a group health plan, not less frequently than quarterly, and under the same conditions, terms, and cost of the semiannual report under this subsection), shall submit to the group health plan a report in accordance with this section.”
The report must come at least every six months. The plan may ask for one every three months instead. That costs no more.
The plan pays for drug coverage but often cannot see what happens to the money. A set report closes that gap. It must be in plain words and readable by a computer.
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