Insurer shall pay for services rendered within 45 days upon receipt of a written claim or 25 days upon receipt of a electronic claim. An insurer can also use a 30 day standard for both written and electronic claims, wit notice. If claim is denied, insurer must provide a reason for denying the claim and what, if any, additional information is required within the time necessary to pay a claim. If an insurer violates this regulation it is subject to a penalty not to exceed $25,000.

Link to Existing Law: 2013 Louisiana RS Title 22 Section 22:1832-1834

While PBMs are not specifically mentioned, they are included as third-party administrators and required to adhere to this regulation.