VirginiaPrescription Drug Affordability Board; established, drug cost affordability review, report.
What it does
Prescription Drug Affordability Board established; drug cost affordability review. Establishes the Prescription Drug Affordability Board for the purpose of protecting the citizens of the Commonwealth and other stakeholders within the health care system from the high costs of prescription drug products. The bill requires the Board to meet in open session at least four times annually, with certain exceptions and requirements enumerated in the bill.
More detail
Members of the Board are required to disclose any conflicts of interest, as described in the bill. The bill also creates a stakeholder council for the purpose of assisting the Board in making decisions related to drug cost affordability. The bill tasks the Board with identifying prescription, generic, and other drugs, as defined in the bill, that are offered for sale in the Commonwealth and, at the Board's discretion, conducting an affordability review of any prescription drug product. The bill lists factors for the Board to consider that indicate an affordability challenge for the health care system in the Commonwealth or high out-of-pocket costs for patients. The bill also provides that any person aggrieved by a decision of the Board may request an appeal of the Board's decision and that the Attorney General has authority to enforce the provisions of the bill. The bill provides that the Board shall establish no more than 12 upper payment limit amounts annually between July 1, 2026, and January 1, 2029.The bill requires the Board to annually report its findings and recommendations to the General Assembly, beginning on December 31, 2026. Provisions of the bill apply to state-sponsored and state-regulated health plans and health programs and obligate such policies to limit drug payment amounts and reimbursements to an upper payment limit amount set by the Board, if applicable, following an affordability review. The bill specifies that Medicare Part D plans are not bound by such decisions of the Board.The bill also requires the nonprofit organization contracted by the Department of Health to provide prescription drug price transparency to provide the Board access to certain data reported by manufacturers. The bill has a delayed effective date of July 1, 2026.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Apr 2House sustained Governor's vetoLatest
- Mar 24Vetoed by Governor Glenn YoungkinMajor
- Mar 11Governor's Action Deadline 11:59 p.m., March 24, 2025To Governor
- Mar 11Enrolled Bill communicated to Governor on March 11, 2024Minor
- Mar 10Signed by PresidentMajor
- Mar 7Signed by SpeakerMajor
- Mar 7Fiscal Impact Statement from Department of Planning and Budget (HB1724)
- Mar 7EnrolledMinor
- Feb 19Fiscal Impact Statement from Department of Planning and Budget (HB1724)
- Vote recorded Senate substitute agreed to by House (52-Y 45-N). Result: pass.Lower
- Feb 19Senate substitute agreed to by House (52-Y 45-N)Major
- Feb 18Passed Senate with substitute (26-Y 14-N)Major
- Vote recorded Passed Senate with substitute (26-Y 14-N). Result: pass.Upper
- Vote recorded Passed Senate with substitute (24-Y 16-N). Result: pass.Upper
- Vote recorded Reconsideration of Senate passage agreed to by Senate. Result: pass.Upper
- Feb 18Reconsideration of Senate passage agreed to by Senate
- Feb 18Passed Senate with substitute (24-Y 16-N)Passed Senate
- Feb 18Engrossed by Senate - committee substituteMajor
- Feb 18Finance and Appropriations Substitute agreed to
- Feb 18Reading of substitute waived
- Feb 18Read third timeMinor
- Feb 17Passed by for the day
- Vote recorded Constitutional reading dispensed (on 2nd reading) (39-Y 0-N). Result: pass.Upper
- Feb 17Constitutional reading dispensed (on 2nd reading) (39-Y 0-N)
- Feb 17Rules suspended
- Feb 14Committee substitute printed 25107574D-S1Major
- Vote recorded Reported from Finance and Appropriations with substitute (10-Y 4-N). Result: pass.Upper
- Feb 14Reported from Finance and Appropriations with substitute (10-Y 4-N)Minor
- Feb 10Reported from Commerce and Labor and rereferred to Finance and Appropriations (10-Y 5-N)Minor
- Vote recorded Reported from Commerce and Labor and rereferred to Finance and Appropriations (10-Y 5-N). Result: pass.Upper
- Feb 3Referred to Committee on Commerce and LaborMinor
- Feb 3Constitutional reading dispensed (on 1st reading)
- Jan 31Read third time and passed House (52-Y 44-N)Passed House
- Vote recorded Read third time and passed House (52-Y 44-N). Result: pass.Lower
- Jan 30Read second time and engrossedMinor
- Jan 29Read first timeMinor
- Jan 27Reported from Appropriations (14-Y 8-N)Minor
- Vote recorded Reported from Appropriations (14-Y 8-N). Result: pass.Lower
- Jan 24Subcommittee recommends reporting (5-Y 2-N)
- Vote recorded Subcommittee recommends reporting (5-Y 2-N). Result: pass.Lower
- Jan 21Fiscal Impact Statement from Department of Planning and Budget (HB1724)
- Jan 15Assigned Approps sub: Health & Human ResourcesMinor
- Jan 14Reported from Labor and Commerce and referred to Appropriations (12-Y 10-N)Minor
- Vote recorded Reported from Labor and Commerce and rereferred to Appropriations (12-Y 10-N). Result: pass.Lower
- Jan 4Referred to Committee on Labor and CommerceMinor
- Jan 4Prefiled and ordered printed; Offered 01-08-2025 25100998DIntroduced