This bill aims to amend and reenact section 33-51-3 of the Code of West Virginia, specifically focusing on the duties and definition of pharmacy benefits management. Key changes include the insertion of new language that expands the definition of pharmacy benefits management to encompass the procurement or claims processing of prescription drugs at negotiated rates, as well as the administration or management of prescription drug benefits for covered individuals. The bill also clarifies that pharmacy benefits management includes various functions such as managing a retail pharmacy network, paying claims for prescription drugs, and developing clinical formularies.

Additionally, the bill removes certain existing language that previously defined the administration of pharmacy benefits, streamlining the definition to better reflect the current practices in pharmacy benefits management. The changes aim to enhance the clarity and effectiveness of pharmacy operations within the state, ensuring that the roles and responsibilities of pharmacy benefits managers are well-defined and aligned with contemporary healthcare practices.

Statutes affected:
Introduced Version: 33-51-3