VA HB1450

Expands claims experience disclosure requirements from group accident/sickness insurance policies to all employee welfare benefit plans as defined under federal ERISA law (29 U.S.C. § 1002(1))

Requires third-party administrators and pharmacy benefits managers to provide claims data, in addition to insurers, including pharmacy benefits claims experience and pharmacy costs

Employers with at least 100 covered individuals can request complete medical and pharmacy claims records at no cost, with data provided within 20 business days when requested at least 45 days before premium renewal dates

Mandates disclosure of a 24-month claims summary, listing of enrollees with claims exceeding $100,000, and total enrollment figures by membership type

Applies to all employee welfare benefit plans delivered, issued, reissued, or extended on or after January 1, 2027