VA SB161

Caps prescription drug cost-sharing payments per 30-day supply based on plan metal level: $150 for platinum, $200 for gold, $250 for silver, and $300 for bronze plans

Applies to individual and small group health insurance markets, requiring at least one plan at each metal level in each rating area to comply with the limits

Cost-sharing caps apply at any point in the benefit design, including before and after deductibles are met

Exempts Health Savings Account-qualified High Deductible Health Plans from the caps until the enrollee has satisfied the minimum deductible required under federal law

Takes effect for policies delivered, issued, or renewed on or after January 1, 2028