HB 5553
Relating to participation in federal prescription drug pricing programs.
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- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill allows the Public Employees Insurance Agency (PEIA) and the Department of Human Services in West Virginia to participate in federal prescription drug pricing programs. Specifically, it permits these agencies to utilize arrangements like direct purchasing agreements and benchmark pricing to potentially lower drug costs. Participation is voluntary and must prioritize beneficiary access to necessary medications. Agencies are required to report on their participation and any resulting cost savings or issues.
Key provisions
- Permits PEIA to participate in federal prescription drug pricing programs.
- Allows the Department of Human Services to participate in similar programs.
- Authorizes direct purchasing agreements with pharmaceutical manufacturers.
- Allows participation in federally negotiated pricing arrangements.
- Allows utilization of federal benchmarks or ceiling prices for reimbursement.
- Requires voluntary participation based on financial benefit and beneficiary access.
- Requires annual reporting to the Joint Committee on Government and Finance on participation, savings, and issues.
- Clarifies that participation does not require adopting a federal formulary or limiting state pharmacy benefits.
Who is affected
- Public Employees Insurance Agency (PEIA)
- Department of Human Services
- State residents covered by PEIA and Department of Human Services programs
- Pharmaceutical manufacturers
- West Virginia taxpayers
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