SB669
Pharmacy benefits managers; requirements, application of law, report, delayed effective date.
Status:
Passed
Latest Action:
March 12, 2026
Senate: Fiscal Impact Statement from State Corporation Commission (SB669)
Chief Patron:
Aaron Rouse (D)
Session:
2026 Regular Session
Summary
As Passed House of Origin. Pharmacy benefits managers; requirements; scope; report.
Requires all health insurance carriers to use the pass-through pricing model and may limit a pharmacy benefits manager from deriving income from pharmacy benefits management services provided to a carrier except for income derived from a pharmacy benefits management fee. The bill prohibits a pharmacy benefits manager from (i) reversing ... (More) and or resubmitting the claim of a pharmacist or pharmacy without meeting certain requirements, (ii) reducing any payment to a pharmacist or pharmacy to an effective rate of reimbursement, or (iii) retroactively denying or reducing a claim or aggregate of claims except under certain circumstances. The bill requires the State Corporation Commission (the Commission) to annually prepare a report based on certain information that examines the overall impact of prescription drug costs on health care premiums in the Commonwealth. Additionally, the bill requires the Commission to examine the practice of carriers or pharmacy benefits managers requiring or inducing covered individuals to utilize pharmacy services at an affiliated pharmacy. The Commission is required to report its findings and recommendations to the General Assembly by December 1, 2026. Certain provisions of the bill have a delayed enactment date of July 1, 2027. (Less)-
Bill History
- 01/14/2026 - Senate: Prefiled and ordered printed; Offered 01-14-2026 26105407D
- 01/14/2026 - Senate: Referred to Committee on Commerce and Labor
- 01/26/2026 - Senate: Senate committee offered
- 01/26/2026 - Senate: Senate committee offered
- 01/26/2026 - Senate: Incorporates SB410 (Peake)
- 01/26/2026 - Senate: Reported from Commerce and Labor with substitute and rereferred to Finance and Appropriations (15-Y 0-N)
- 01/26/2026 - Senate: Rereferred to Finance and Appropriations
- 01/26/2026 - Senate: Incorporates SB413 (Peake)
- 01/27/2026 - Senate: Committee substitute printed 26106220D-S1
- 02/03/2026 - Senate: Reported from Finance and Appropriations (15-Y 0-N)
- 02/04/2026 - Senate: Rules suspended
- 02/04/2026 - Senate: Constitutional reading dispensed Block Vote (on 1st reading) (40-Y 0-N 0-A)
- 02/04/2026 - Senate: Passed by for the day Block Vote (Voice Vote)
- 02/05/2026 - Senate: Read second time
- 02/05/2026 - Senate: Commerce and Labor Substitute agreed to
- 02/05/2026 - Senate: Engrossed by Senate - committee substitute Block Vote (Voice Vote)
- 02/06/2026 - Senate: Read third time and passed Senate (40-Y 0-N 0-A)
- 02/10/2026 - Senate: Fiscal Impact Statement from State Corporation Commission (SB669)
- 02/12/2026 - House: Placed on Calendar
- 02/12/2026 - House: Read first time
- 02/12/2026 - House: Referred to Committee on Labor and Commerce
- 02/18/2026 - House: Placed on Labor and Commerce Agenda
- 02/19/2026 - House: Reported from Labor and Commerce with substitute (20-Y 0-N)
- 02/19/2026 - House: Committee substitute printed 26108250D-H1
- 02/23/2026 - House: Read second time
- 02/24/2026 - House: Moved from Uncontested Calendar to Regular Calendar
- 02/24/2026 - House: Passed by for the day
- 02/25/2026 - House: Floor substitute printed 26108552D-H2 (Callsen)
- 02/25/2026 - House: Floor Offered
- 02/25/2026 - House: Read third time
- 02/25/2026 - House: committee substitute rejected
- 02/25/2026 - House: Delegate Callsen Floor substitute agreed to
- 02/25/2026 - House: Engrossed by House - floor substitute
- 02/25/2026 - House: Passed House with substitute (98-Y 0-N 0-A)
- 02/27/2026 - Senate: House substitute agreed to by Senate (38-Y 0-N 0-A)
- 03/04/2026 - Senate: Enrolled
- 03/04/2026 - Senate: Bill text as passed Senate and House (SB669ER)
- 03/04/2026 - House: Signed by Speaker
- 03/04/2026 - Senate: Signed by President
- 03/10/2026 - Senate: Enrolled Bill communicated to Governor on March 10, 2026
- 03/10/2026 - Governor's Action Deadline 11:59 p.m., April 13, 2026
- 03/12/2026 - Senate: Fiscal Impact Statement from State Corporation Commission (SB669)
