118 S2493 IS: PBM Reporting Transparency Act U.S. Senate 2023-07-25 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II118th CONGRESS1st SessionS. 2493IN THE SENATE OF THE UNITED STATESJuly 25, 2023Mr. Warner (for himself, Mr. Thune, Ms. Cortez Masto, and Mr. Tillis) introduced the following bill; which was read twice and referred to the Committee on FinanceA BILLTo require the Medicare Payment Advisory Commission (MedPAC) submit to Congress two reports on arrangements with pharmacy benefit managers with respect to prescription drug plans and MA–PD plans.

1.

Short title

This Act may be cited as the PBM Reporting Transparency Act.

2.

MedPAC reports on agreements with pharmacy benefit managers with respect to prescription drug plans and MA–PD plans

(a)

In general

The Medicare Payment Advisory Commission shall submit to Congress the following reports:(1)Not later than March 31, 2026, a report on agreements with pharmacy benefit managers with respect to prescription drug plans and MA–PD plans. Such report shall include—(A)a description of trends, including high-level averages and totals for each of the types of information submitted;(B)an analysis of any differences in agreements and their effects on plan enrollee out-of-pocket spending and average pharmacy reimbursement, and any other impacts; and(C)any recommendations the Commission determines appropriate.(2)Not later than March 31, 2028, a report describing any changes with respect to the information described in paragraph (1) over time, together with any recommendations the Commission determines appropriate. (b)

Confidentiality

The Commission shall not report in a manner that would identify a specific pharmacy benefit manager or their affiliates, PDP sponsor, MA organization, or plan, or the prices charged for specific drugs.