Legislation to create a Prescription Drug Affordability Board was continued to the 2023 General Assembly session at the request of its patron, Sen. Chap Petersen (D-Fairfax).
SB376 would have established a board with the authority to set upper payment limits on certain expensive drugs.
AARP Virginia today released the following statement on this development from State Advocacy Director Natalie Snider:
“The Virginia General Assembly should make it a top priority to lower the cost of living for all Virginians by addressing rising prescription drug prices, which are among the biggest contributors to health care costs. AARP Virginia is encouraged that there is growing momentum for the legislature to lower the cost of prescription drugs for Virginians, even though Senate Bill 376 did not pass this year. This bill would create a state board to examine major price increases for drugs and have the power to set upper payment limits on the most expensive drugs.
“AARP Virginia will spend 2022 encouraging our volunteers and members to remind legislators how important it is to them that our elected officials act urgently to rein in the skyrocketing costs of medications, and we intend to support Prescription Drug Affordability Board legislation in the 2023 session. For now, we sincerely thank Sen. Chap Petersen (D-Fairfax) and Sen. John Bell (D-Broadland) for their tireless efforts in the 2022 session to make medicine more affordable for older Virginians, and for all Virginians who depend on it. We look forward to continuing to work with them on this issue.”
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