Health insurance rate reviews; pharmacy benefit price spread. (HB573)

Introduced By

Del. Keith Hodges (R-Urbanna)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Health insurance rate reviews; pharmacy benefit price spread. Requires the State Corporation Commission (Commission) to treat the price spread on any contract between the issuer of a health benefit plan and its pharmacy benefit manager as an administrative cost of the issuer. The issuer's administrative costs are required to be excluded from the amount of benefits provided under a health benefit plan when the Commission determines the health benefit plan's anticipated loss ratio. The measure codifies portions of the Commission's regulations promulgated to implement the requirement that it review and approve the premium rates for health benefit plans, including the requirement that the benefits provided by a health benefit plan are reasonable in relation to the premiums charged. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/08/2018Committee
01/08/2018Prefiled and ordered printed; offered 01/10/18 18100315D
01/08/2018Referred to Committee on Commerce and Labor
01/22/2018Impact statement from SCC (HB573)
01/24/2018Impact statement from SCC (HB573)
02/01/2018Passed by indefinitely in Commerce and Labor (19-Y 0-N) (see vote tally)