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Bill > SB161


VA SB161

VA SB161
Health insurance; limit on cost-sharing payments for prescription drugs under certain plans.


summary

Introduced
01/07/2026
In Committee
02/19/2026
Crossed Over
02/05/2026
Passed
Dead

Introduced Session

Potential new amendment
2026 Regular Regular Session

Bill Summary

Health insurance; limit on cost-sharing payments for prescription drugs under certain plans. Requires each carrier that offers a health plan in either the individual or small group market to ensure that at least 50 percent of all health plans offered by the carrier, or at least one health plan if the carrier offers fewer than two health plans, in each rating area and in each of the bronze, silver, gold, and platinum levels of coverage in the individual and small group market conform with the following: (i) a plan that offers a silver, gold, or platinum level of coverage limits a person's cost-sharing payment for prescription drugs covered under the plan to an amount that does not exceed $100 per 30-day supply of the prescription drug and (ii) a plan that offers a bronze level of coverage limits a person's cost-sharing payment for prescription drugs covered under the plan to an amount that does not exceed $150 per 30-day supply of the prescription drug. The bill provides that such limits apply at any point in the benefit design, including before and after any applicable deductible is reached. The bill requires that any plans offered to meet its requirements are (a) clearly and appropriately named to aid the consumer or plan sponsor in the plan selection process and (b) marketed in the same manner as other plans offered by the carrier. The bill's provisions apply to any individual or group accident and sickness insurance policy, any individual or group accident and sickness subscription contract, and any health care plan for health care services delivered, issued for delivery, or renewed in the Commonwealth on or after January 1, 2028.

AI Summary

This bill requires health insurance companies, referred to as "carriers," that offer plans in the individual or small group markets to ensure that a significant portion of their plans, specifically at least 50% or at least one plan if fewer than two are offered, meet new limits on what people pay out-of-pocket for prescription drugs, known as "cost-sharing payments." These limits apply to plans categorized as bronze, silver, gold, and platinum. For silver, gold, and platinum plans, the maximum cost-sharing payment for a 30-day supply of a covered prescription drug will be $100, and for bronze plans, it will be $150. These limits will apply regardless of whether a deductible, which is the amount a person must pay before insurance starts covering costs, has been met. The bill also mandates that these cost-saving plans be clearly named to help consumers choose and marketed similarly to other plans. These provisions will take effect for plans renewed or issued on or after January 1, 2028, but are contingent on being reenacted by the General Assembly in 2027.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

Committee substitute printed 26108163D-H1 (on 02/19/2026)

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