SB668

Virginia SB668 regulates state pharmacy benefits managers for Medicaid, prohibiting spread pricing and requiring compliance reports.

Virginia SB668 mandates that the state pharmacy benefits manager for Medicaid adhere to network adequacy standards, use pass-through pricing, and provide transparency in drug costs and fees. It prohibits spread pricing through differential cost-sharing and mandates annual reporting on compliance, drug acquisition costs, and pharmacy reimbursement trends. The bill also includes enforcement mechanisms and monetary penalties for noncompliance.