Prescription Drug Transparency and Affordability Act
Take action
Record your position on this measure.
Create an account to record your position, submit testimony, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
The Prescription Drug Transparency and Affordability Act aims to increase oversight of pharmacy benefit management (PBM) services. It requires PBMs to disclose detailed information about drug pricing, rebates, and costs to health plans and participants, promoting greater transparency in the pharmaceutical supply chain. The bill also establishes rules regarding contract negotiations between health plans and PBMs, and mandates reporting requirements to ensure fair pricing and prevent anti-competitive practices.
Key provisions
- Requires PBMs to provide detailed reports to health plans and participants on drug pricing, rebates, and costs.
- Establishes rules for contract negotiations between health plans and PBMs, preventing limitations on information disclosure.
- Mandates reporting requirements for PBMs regarding drug claims, dispensing channels, and remuneration received.
- Requires group health plans to provide participants with summaries of drug pricing information upon request.
- Defines ‘applicable entities’ to include drug manufacturers, wholesalers, and other supply chain participants.
- Establishes a standard format for PBM reports through rulemaking.
- Requires health plans to notify participants about the reporting requirements of PBMs.
- Creates a limited form of report for plans sponsored by drug manufacturers to prevent anti-competitive behavior.
Who is affected
Bill text
Read the latest version inline or switch to a previous version.
Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
4 on record
Primary sponsor
Cosponsors
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours