Introduced January 31, Senate Bill 488 requires the Director of the WV Public Employees Insurance Agency to include language in any contract for pharmacy benefit management (PBM) that requires the PBM to provide quarterly data relating to the payment of claims to pharmacy providers and the amount charged to the agency for each claim by the PBM so that the agency and the Joint Committee on Government and Finance can assess the impact of any differences on expenditures for PEIA program.
The proposed legislation calls for the following to be disclosed: (1) the cost of drug reimbursement; (2) dispensing fees paid pharmacies; (3) copayments paid by individuals; and (4) the amount charged to the agency for each claim by the PBM.
The PBM is to also report an itemization of all administrative fees, rebates, or processing charges associated with the claim. All data and information provided by the PBM shall be kept secure.
Senate Bill 488 was introduced by Senators Michael Maroney (R-Marshall), Paul Hardesty (D-Logan), Tom Takubo (R-Kanawha), Ron Stollings (D-Boone), Robert Plymale (D-Wayne) and Eric Tarr (R-Putnam).
