VIRGINIA LAW PORTAL

• Code of Virginia
• Virginia Administrative Code
• Constitution of Virginia
• Charters
• Authorities
• Compacts
• Uncodified Acts
• RIS Users (account required)

SEARCHABLE DATABASES

• Bills & Resolutions
  session legislation
• Bill Summaries
  session summaries
• Reports to the General Assembly
  House and Senate documents
• Legislative Liaisons
  State agency contacts

ACROSS SESSIONS

• Subject Index: Since 1995
• Bills & Resolutions: Since 1994
• Summaries: Since 1994

Developed and maintained by the Division of Legislative Automated Systems.

2021 SESSION

• | print version

HB 2007 Prescription drugs; price transparency, definitions.

Introduced by: Mark D. Sickles | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED HOUSE:

Prescription drug price transparency. Directs the Department of Health to enter into a contract or an agreement with a nonprofit data services organization to collect, compile, and make available on its website information about prescription drug pricing and requires every health carrier, pharmacy benefits manager, and drug manufacturer to report information about prescription drug prices to the nonprofit data services organization with which the Department of Health has entered into a contract for such purpose. The bill provides that in any case in which the Department determines that the data reported by health carriers, pharmacy benefit managers, and drug manufacturers is insufficient, the Department may require wholesale distributors to report certain data about prescription drug costs. The bill has a delayed effective date of January 1, 2022.

SUMMARY AS INTRODUCED:

Prescription drug price transparency. Requires every health carrier, pharmacy benefits manager, wholesale drug distributer, and drug manufacturer to report information about prescription drug prices to the Department of Health and requires the Department to make such information available on its website. The bill also provides that, beginning January 1, 2022, a health plan enrollee's defined cost sharing for each prescription drug shall be calculated at the point of sale based on a price that is reduced by an amount equal to at least 80 percent of all rebates received, or to be received, in connection with the dispensing or administration of the prescription drug. The bill also requires the Bureau of Insurance to (i) identify all statutory and regulatory provisions from which health plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) are exempted and (ii) determine the financial impact, if any, of application of such statutory and regulatory provisions such health plans, and to report its finding to the Chairman of the House Committees on Health, Welfare and Institutions and Labor and Commerce and the Chairmen of the Senate Committees on Commerce and Labor and Education and Health by October 1, 2021