This amendment provides $125,000 from the general fund and $125,000 in matching federal Medicaid funds for the Department of Medical Assistance Services (DMAS) to contract with their actuary to determine the best pharmacy benefit delivery model for the Medicaid and Children's Health Insurance Programs in terms of cost effectiveness and other considerations. DMAS is required to report findings from the review of pharmacy benefit management realignment in the Medicaid and Children's Health Insurance Programs to the Chairmen of House Appropriations and Senate Finance Committees by December 1, 2019. The language requires the contracted actuary of DMAS to determine potential cost savings. Upon approval of the 2020 General Assembly, the department may make programmatic changes to align the payments for prescribed drugs and dispensing fees with the most beneficial financial solution for the Commonwealth. Language also authorizes the agency to contract with a Virginia university for administration of a common formulary across its programs for pharmacy benefits.