HB 573 – Virginia

Status: Inactive / Dead
Year Introduced: 2018
Link: https://lis.virginia.gov/cgi-bin/legp604.exe?181+sum+HB573

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.

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