HB 2831
Creating the Prescription Drug Affordability Board
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- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill establishes the West Virginia Prescription Drug Affordability Board to address the high costs of prescription drugs. The board will study affordability challenges, review drug costs, and potentially set upper payment limits on purchases and reimbursements. It also creates a stakeholder council to provide input and establishes a fund to support the board's activities. The bill aims to protect residents, state governments, and healthcare providers from unaffordable drug prices.
Key provisions
- Establishes the West Virginia Prescription Drug Affordability Board.
- Defines key terms related to prescription drugs, such as ‘brand name drug,’ ‘generic drug,’ and ‘biosimilar.’
- Creates a Prescription Drug Affordability Stakeholder Council to advise the board.
- Requires the board to conduct a study and report on prescription drug transparency data.
- Mandates a cost review of prescription drug products with affordability challenges.
- Establishes a fund to support the board’s operations.
- Provides for enforcement mechanisms and remedies.
- Requires the board to adhere to conflict of interest rules and the Ethics Act.
Who is affected
- West Virginia residents
- State and local governments
- Commercial health plans
- Healthcare providers
- Pharmacies
Notable changes
- The bill creates a new state-level body dedicated to addressing prescription drug affordability.
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