RICHMOND, Va. — Today, the Affordable Medicine Act continued to make its way through the General Assembly. HB 483, patroned by Delegate Karrie Delaney (D-Fairfax), passed with bipartisan support on the House floor by a 61-33 vote. This legislation takes an innovative approach to lower the cost of prescription drugs and would make Virginia the first state in the country to expand the successful Medicare negotiated-savings to hundreds of thousands of people not on Medicare.
The Affordable Medicine Act would establish a Prescription Drug Affordability Board (PDAB) with the immediate authority to extend the federally negotiated Medicare prices for 25 burdensome prescription drugs to hundreds of thousands of Virginians not enrolled in Medicare. These new negotiated prices are already saving Medicare enrollees nationally $1.5 billion and lowering out-of-pocket costs by nearly 50%. In 2027, the Board would expand the cost savings from the first 10 drugs negotiated under the Biden Administration, which took effect for Medicare enrollees on January 1, 2026. In 2028, the Board would extend cost savings from the next 15 drugs negotiated under the Trump Administration, which are set to take effect on January 1, 2027.
Freedom Virginia co-Executive Director Rhena Hicks released the following statement:
“We’re excited to see the Affordable Medicine Act pass in the House, and we’re especially thankful for the support of Delegate Delaney, Delegate McLaughlin, and the rest of the Delegates who continue to show up for this legislation. Virginians need solutions that will improve their day-to-day lives. The Affordable Medicine Act is a chance for the General Assembly and the governor to deliver on their promises of affordability by lowering out-of-pocket prescription drug costs for hundreds of thousands of hardworking people. Medicine can’t do its job if you can’t afford it, and today the House of Delegates brought affordable medicine one step closer to Governor Spanberger’s desk, and one step closer to reality for hardworking Virginians.”
Companion legislation, SB271, patroned by Creigh Deeds (D-Charlottesville), passed the floor of the Senate last week with bipartisan support by a 31-8 vote. Both bills will now cross over to the other chamber.
