Pharmacy benefit managers; licensure and regulation. (SB252)

Introduced By

Sen. John Edwards (D-Roanoke)

Progress

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

Description

Pharmacy benefit managers; licensure and regulation. Provides that, beginning January 1, 2021, no person is authorized to provide pharmacy benefit management services or otherwise act as a pharmacy benefit manager without first obtaining a license from the State Corporation Commission. Such licenses are to be renewed annually. The bill prohibits a pharmacy benefit manager from participating in spread pricing, defined in the bill, and provides that except for any agreed-upon administrative fee, all funds, including any rebates received by the pharmacy benefit manager in relation to providing pharmacy benefit management services for a carrier, will be distributed to the carrier. Read the Bill »

Status

01/27/2020: Incorporated into Another Bill

History

DateAction
01/02/2020Prefiled and ordered printed; offered 01/08/20 20101087D
01/02/2020Referred to Committee on Commerce and Labor
01/15/2020Assigned C&L sub: Health Insurance
01/16/2020Impact statement from SCC (SB252)
01/27/2020Incorporated by Commerce and Labor (SB251-Edwards) (15-Y 0-N) (see vote tally)

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