The proposed bill establishes the West Virginia Prescription Drug Affordability Board, tasked with protecting residents from high prescription drug costs by setting upper payment limits on prescription drugs purchased or paid for by state or local government entities. The bill introduces a new article to the Code of West Virginia, detailing the board's composition, which includes members with expertise in healthcare economics or clinical medicine, appointed by various state officials. It mandates adherence to the West Virginia Public Employees' Ethics Act, requiring conflict of interest disclosures and the posting of relevant information on the board's website. The board is also responsible for conducting studies on prescription drug pricing transparency and affordability challenges, with findings reported to the Governor and the Legislative Joint Committee on Government Finance by December 31, 2028.

Additionally, the bill creates a Prescription Drug Affordability Stakeholder Council to provide input from diverse representatives in the healthcare sector. It outlines a process for approving action plans, requiring the Governor and Attorney General's approval within 45 days, and includes provisions for appeals regarding upper payment limits. The board must monitor drug availability and reconsider limits if shortages occur, while also ensuring confidentiality of sensitive data. Annual reports on price trends and review outcomes will be submitted to enhance transparency and accountability in making prescription drugs more affordable for West Virginia residents.

Statutes affected:
Introduced Version: 16-8C-1, 16-8C-2, 16-8C-3, 16-8C-4, 16-8C-5, 16-8C-6, 16-8C-7, 16-8C-8, 16-8C-9, 16-8C-10, 16-8C-11, 16-8C-12, 16-8C-13, 16-8C-14, 16-8C-15, 16-8C-16