Section Ins 2704.10 - Periodic Audit(a) The commissioner shall examine a PBM pursuant to RSA 400-A:37 and RSA 402-N:7. The cost of the audit shall be paid by the PBM pursuant to RSA 402-N:7. Audits shall include premium collection, claims processing, and marketing practices.(b) The PBM shall have continuing access to all books and records in order to fulfill its contractual obligations.(c) All books and records maintained by the PBM as part of that contractual obligation shall: (1) Be owned by the health carrier or the PBM;(2) Conform to the standards of insurance record keeping required of insurers subject to filing an annual audited financial statement pursuant to RSA 400-A:36;(3) Be retained for 5 years from the date of their creation; and(4) Be subject to examination by the commissioner or the insurer for which the records are kept.(d) Upon termination of an agreement between the PBM and the health carrier pursuant to the termination provisions in the agreement, the records may be transferred to a new PBM in lieu of the required 5 year retention. If such a transfer occurs, the new PBM shall acknowledge in writing receipt and responsibility for the transferred records.N.H. Admin. Code § Ins 2704.10
Derived From Volume XL Number 28, Filed July 9, 2020, Proposed by #13059, Effective 6/29/2020, Expires 6/29/2030.