Maximum allowable cost definition

Maximum allowable cost means the maximum amount that a pharmacy benefit manager will reimburse a pharmacy for the cost of a drug.

Maximum allowable cost or "MAC" means the list of drug

Maximum allowable cost means the maximum amount that a

Examples of Maximum allowable cost in a sentence

• Maximum allowable cost" means the maximum amount a health insurer will pay for a generic drug or brand‑name drug that has at least one generic alternative available.[PL 2019, c.

• Maximum allowable cost" means the maximum amount a health insurer will pay for a generic drug or brand‑name drug that has at least one generic alternative available.

• As used herein: 6 (1) "Maximum allowable cost" means the maximum amount that a pharmacy benefits 7 manager will pay toward the cost of a drug; 8 (2) "Nationally available" means that all pharmacies in this state can purchase the drug 9 from regional or national wholesalers and that the product is not obsolete or temporarily 10 unavailable; 11 (3) "Therapeutically equivalent" means the equivalent determined by the United States 12 Food and Drug Administration.

• Maximum allowable cost lists for pharmaceuticals - Pharmacy benefits managers - Penalty.

• Maximum allowable cost (MAC) is the maximum amount that a PBM will reimburse a pharmacy for the cost of a drug.

More Definitions of Maximum allowable cost

Maximum allowable cost means the per unit drug product

Maximum allowable cost means the maximum amount that a pharmacy benefit manager will reimburse a network pharmacy for the ingredient cost for a generic drug.

Maximum allowable cost means the per unit amount that a pharmacy benefits

Maximum allowable cost means the per unit drug product reimbursement amount, excluding dispensing fees, for a group of equivalent multisource generic prescription drugs.

Maximum allowable cost means the maximum amount a health insurer will pay for a generic drug or brand-name drug that has at least one generic alternative available.

Maximum allowable cost means the maximum amount that a pharmacy benefits

Maximum allowable cost means the per unit amount that a pharmacy benefits manager reimburses a pharmacist for a prescription drug, excluding dispensing fees and copayments, coinsurance, or other cost-sharing charges, if any.