Bill
SB 668
SB 668 establishes contractual requirements and reporting standards for Virginia state pharmacy benefits managers to increase transparency and potentially reduce prescription drug costs.
SB 668 regulates contractual provisions and operational requirements for pharmacy benefits managers (PBMs) operating in Virginia, particularly those managing state health benefit plans. The bill requires PBMs to comply with specific contractual standards and mandates reporting to state authorities on their practices and pricing structures.
PBMs act as intermediaries between insurers, pharmacies, and patients, controlling drug pricing and access—making their practices significantly impact medication costs and availability for Virginia residents. Increased transparency and contractual requirements could lower drug costs for state employees and beneficiaries, though compliance costs may be passed to consumers. This reflects a national trend of states attempting to regulate PBM practices after federal scrutiny over their role in rising prescription drug prices.
Compiled from official sources — confirm details with the bill’s official record.
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