VA HB736

Establishes minimum authorization periods for prescription drug prior authorizations: at least 6 months for initial authorizations and 12 months for continued authorizations

Expands the conditions under which carriers may revoke or modify existing prior authorizations to include situations where additional safety and efficacy monitoring is clinically appropriate or recommended by the FDA, regulatory agencies, or manufacturers

Prohibits carriers from revoking approved prior authorizations except for fraud, FDA actions removing or limiting the drug, safety or efficacy issues, drug interactions, or when a generic/biosimilar becomes available

Amends Virginia Code § 38.2-3407.15:2, effective January 1, 2027, applying to carrier contracts entered into, amended, or renewed on or after that date

Maintains existing requirements for carriers to respond to prior authorization requests within 24 hours for urgent requests and two business days for standard requests