Health insurance rate reviews; pharmacy benefit price spread. (HB2516)

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; minimum anticipated loss ratios; 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 benefits manager as an administrative cost of the issuer. The measure requires the issuer's administrative costs 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. Amends § 38.2-4214, § 38.2-4319, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/09/2019Committee
01/09/2019Prefiled and ordered printed; offered 01/09/19 19102959D
01/09/2019Referred to Committee on Commerce and Labor
01/15/2019Assigned C & L sub: Subcommittee #1
01/27/2019Impact statement from SCC (HB2516)
01/29/2019Subcommittee recommends laying on the table (6-Y 1-N)
02/05/2019Left in Commerce and Labor

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