West Virginia’s Office of the Insurance Commissioner issued a bulletin with analysis about the impact of rebate transparency and shared savings as required by HB. 2263, the Pharmacy Audit Integrity Act, enacted in 2021. The new policy requires that all rebates be passed through to patients and employers/plan sponsors. PBMs are prohibited from keeping any rebates and will face substantial penalties if found to be non-compliant. Data submitted by insurance companies indicated that patient premiums either decreased or that the policy mitigated any increases in patient premiums. Patient cost share at the point of sale was also reduced because that was required before the excess rebates were reported to the OIC.
NCPA
