FISCAL NOTE
Date Requested: March 13, 2025
Time Requested: 01:30 PM |
| Agency: |
Insurance Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 3347 |
Introduced |
HB3092 |
|
|---|
| CBD Subject: |
Health |
|---|
|
FUND(S):
7152 Insurance Commission Fund
Sources of Revenue:
Special Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
House Bill 3092 amends and expands the Fairness in Cost Sharing Calculation sections in existing West Virginia Code and adds a civil enforcement penalty section.
HB3092 would have no fiscal impact on the WV Offices of the Insurance Commissioner.
Please see the memorandum section of this fiscal note for additional information
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2025
Increase/Decrease
(use"-") |
2026
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
0 |
0 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Please explain increases and decreases in personal services, current expenses, repairs and alterations, assets, other costs and revenues, including assumptions and data sources and delineation between start-up and ongoing costs. Please also include a long-range schedule of costs and revenues if fiscal impact is expected to vary in future years.
Memorandum
House Bill 3092 amends and expands the Fairness in Cost Sharing Calculation sections in existing West Virginia Code, requiring pharmacy benefit managers (PBMs) and insurers to include any cost sharing amounts paid by insured or by another person when calculating insured's contribution to any applicable cost sharing requirement; applying certain annual limitation on cost sharing to all health plans issued in this state; and preventing insurers, PBM's, and third-party administrators from changing the terms of health plan coverage based on the availability or amount of financial assistance available for a prescription drug; defining terms; providing civil enforcement penalties and authorizing restitution; and providing effective date.
House Bill 3092 would have no fiscal impact on the WV Offices of the Insurance Commissioner.
It should be noted that the amendments made by HB 3092, as drafted, would be retroactively effective for policy, contracts, plans or agreements beginning on January 1, 2025. We would recommend that the effective date be changed to a prospective date that is subsequent to the bill's passage.
Person submitting Fiscal Note: Rhonda C Hartwell
Email Address: rhonda.c.hartwell@wv.gov