Pharmacy benefits managers; frequency of required report.
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SB 359 — Pharmacy benefits managers; frequency of required report.
Last action — Approved by Governor-Chapter 283 (effective 7/1/22)
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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✓Passed Senate
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✓Passed House of Delegates
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✓To Executive
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6Enacted
This bill has been enacted into law. Introduced January 11, 2022. Enacted.
Signed by Governor Glenn Youngkin (Republican) on April 08, 2022.
Prognosis
Where this bill stands today.
Odds of enactment
HighHow often bills like it became law.
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Enacted
Current position in the legislative process.
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1 sponsor
1 primary, 0 co-sponsors signed on.
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Cleared a recorded vote
Passed 5 recorded votes so far.
Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.
Summary
Pharmacy benefits managers; frequency of requiredreport. Changes the frequency of which a carrier or its pharmacybenefits manager is required to report certain information to theCommissioner of Insurance. The bill provides that the report is tobe filed quarterly through the period ending December 31, 2022, andis to be filed by March 31 of each year on a calendar year basisthereafter. Under current law, the report is required quarterly indefinitely.
Bill Text
What changed in the latest version
41 added · 40 removedPlain-language change summary
The recent amendment to SB 359 updates the responsibilities of carriers regarding pharmacy benefits managers and clarifies reporting requirements. Specifically, it mandates that carriers provide detailed quarterly reports about rebates received, how much is passed on to health plans, and the cost-sharing reductions for enrollees. This change aims to improve transparency in prescription drug pricing, ensuring that consumers benefit from rebates and that the state can better oversee the practices of pharmacy benefits managers. This is important because it helps to ensure that consumers are getting their fair share of savings from these rebates.
SESSION ENROLLED VIRGINIA ACTS OF ASSEMBLY ––-- 2022 SESSION CHAPTER E283 An Act to amend and reenact § 38.2-3468 of the Code of Virginia, relating to pharmacy benefits N managers;
R O [S 359] L Approved April 8, 2022 Be it enacted by the General Assembly of Virginia:
L 1.
E § 38.2-3468.
Each carrier, on its own or through its contract for pharmacy benefits, shall ensure that the Commissioner may examine or audit the books and records of a pharmacy benefits manager providing claims processing services or other prescription drug or device services for a carrier that are relevant to responsibledetermining forif the chargespharmacy incurredbenefits inmanager theis examination,in includingcompliance thewith expensesthis ofarticle. the Commissioner or his designee and the expenses and compensation of his examiners and assistants.
B.The carrier shall be his designee and the expenses and compensation of his examiners and assistants.
Anyof Each carrier, on its own or through its contract for pharmacy benefits, shall report the following information to the Commissioner onor aB. quarterly basis for each health benefit plan theS following information:
3Any 1.Each carrier, on its own or through its contract for pharmacy benefits, shall report the following information to the Commissioner on a quarterly basis for each health benefit plan the following information:
1.
92. 3.
The aggregate amount of rebates distributed to the appropriate health benefit plan;
3.
and manager5. paid for services itemized by pharmacy, by product, and by goods and services.cy benefits The report required by this subsection shall be filed on a quarterly basis through March 31, 2023.
Upon the request of the Commission, the individual and aggregate amount a pharmacy benefits manager paid for services itemized by pharmacy, by product, and by goods and services.
The report required by this subsection shall be filed on a quarterly basis through March 31, 2023.
All working papers, documents, reports, and copies thereof, produced by, obtained by or disclosed to the Commission or any other person in the course of an examination made under this article and any analysis of such information or documents shall be given confidential treatment, are not subject tonyto subpoena, and may not be made public by the Commission or any other person.
Any such disclosure by the Commission shall not constitute a waiver of confidentiality of such papers, receivingdocuments, thereports informationor tocopies providethereof. to it the same confidential treatment as required by this section.
Any parties receiving such papers must agree in writing prior to receiving the information to provide to it the same confidential treatment as required by this section.
View plain text versions (3)
- CHAP0283 View text Current pdf April 08, 2022
- SB359ER View text pdf March 04, 2022
- Prefiled Prefiled and ordered printed; offered 01/12/22 22101313D pdf January 11, 2022
Action History
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Approved by Governor-Chapter 283 (effective 7/1/22)
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Governor's Action Deadline 11:59 p.m., April 11, 2022
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Enrolled Bill Communicated to Governor on March 11, 2022
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Impact statement from SCC (SB359ER)
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Signed by Speaker
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Signed by President
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Enrolled
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VOTE: Block Vote Passage (100-Y 0-N)
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Passed House BLOCK VOTE (100-Y 0-N)
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Read third time
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Read second time
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Reported from Commerce and Energy (22-Y 0-N)
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Referred to Committee on Commerce and Energy
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Read first time
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Placed on Calendar
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Read third time and passed Senate (37-Y 0-N)
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Read second time and engrossed
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Constitutional reading dispensed (40-Y 0-N)
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Reported from Commerce and Labor (15-Y 0-N)
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Impact statement from SCC (SB359)
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Referred to Committee on Commerce and Labor
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Prefiled and ordered printed; offered 01/12/22 22101313D
Sponsors
- Richard H. Stuart · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 147 not signed on
Sponsors (1)
Co-sponsors (0)
None.
Not signed on (147)
147 members have not signed on to this bill.
Show all 147 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 99 | 0 | 0 | 0 |
| Total | 99 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (99)
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 22 | 0 | 0 | 0 |
| Total | 22 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (22)
| Member | Party | Vote |
|---|---|---|
| Adams, Les R. | — | Yea |
| Alfonso H. Lopez | — | Yea |
| Batten, Amanda E. | — | Yea |
| Byron, Kathy J. | — | Yea |
| Christopher T. Head | — | Yea |
| Don Scott | — | Yea |
| Gooditis, Wendy W. | — | Yea |
| Guzman, Elizabeth R. | — | Yea |
| Israel D. O'Quinn | — | Yea |
| Jeion A. Ward | — | Yea |
| Joseph P. McNamara | — | Yea |
| Keam, Mark L. | — | Yea |
| Kory, Kaye | — | Yea |
| Lamont Bagby | — | Yea |
| Marshall, Daniel W., III | — | Yea |
| Michael J. Webert | — | Yea |
| Mullin, Michael P. | — | Yea |
| R. Lee Ware | — | Yea |
| Ransone, Margaret B. | — | Yea |
| Richard C. "Rip" Sullivan, Jr. | — | Yea |
| Terry G. Kilgore | — | Yea |
| Tony O. Wilt | — | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 37 | 0 | 0 | 3 |
| Total | 37 | 0 | 0 | 3 |
| % of votes cast | 93% | 0% | 0% | 8% |
How each member voted (40)
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 40 | 0 | 0 | 0 |
| Total | 40 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (40)
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 15 | 0 | 0 | 0 |
| Total | 15 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (15)
| Member | Party | Vote |
|---|---|---|
| Spruill, Lionell, Sr. | — | Yea |
| Barker, George L. | — | Yea |
| Bell, John J. | — | Yea |
| David W. Marsden | — | Yea |
| Ebbin, Adam P. | — | Yea |
| Edwards, John S. | — | Yea |
| L. Louise Lucas | — | Yea |
| Lewis, Lynwood W., Jr. | — | Yea |
| Mark D. Obenshain | — | Yea |
| Mason, T. Montgomery "Monty" | — | Yea |
| Newman, Stephen D. | — | Yea |
| Norment, Thomas K., Jr. | — | Yea |
| R. Creigh Deeds | — | Yea |
| Saslaw, Richard L. | — | Yea |
| Scott A. Surovell | — | Yea |
Subjects
Frequently asked questions
- What does SB 359 do?
- Pharmacy benefits managers; frequency of requiredreport. Changes the frequency of which a carrier or its pharmacybenefits manager is required to report certain information to theCommissioner of Insurance. The bill provides that the report is tobe filed quarterly through the period ending December 31, 2022, andis to be filed by March 31 of each year on a calendar year basisthereafter. Under current law, the report is required quarterly indefinitely.
- Who sponsors SB 359?
- SB 359 is sponsored by Richard H. Stuart.
- What is the current status of SB 359?
- This bill has been enacted into law. Introduced January 11, 2022. Enacted.
- Where can I track SB 359?
- Track SB 359 free on One Click Politics — get push/email alerts when it moves.
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