The Senate Banking and Insurance Committee has approved three bills to be reported to the floor with the recommendation that they pass.
SB 507 would allow pharmacists to inform customers about lower cost alternatives to prescribed drugs.
Currently, patients can still opt for generic or cheaper alternatives, but there is no law in place with a provision that would protect pharmacists’ capability to suggest those alternatives.
Richard Stevens, executive director of the West Virginia Pharmacists Association, said some pharmacists are prohibited by certain PBM contracts from disclosing more affordable product options.
Stevens said most pharmacists in the state have told him they support the bill’s passage.
HB 2619 would adopt the National Association of Insurance Commissioners’ Risk Management and Own Risk Solvency Assessment Model Act for implementation by West Virginia insurers so that they are better equipped to assess their financial condition and remain solvent.
SB 601 would adjust limits on consumer loans in West Virginia for which certain finance charges may be imposed.
All three bills will be referred to Senate Judiciary once reported to the full Senate.
