S 127
Pharmacy Benefit Manager Transparency Act of 2023
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- Passed Senate
- Passed House
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- Became Law
Bill overview
The Pharmacy Benefit Manager Transparency Act of 2023 aims to increase transparency and accountability in how pharmacy benefit managers (PBMs) operate. It prohibits PBMs from engaging in unfair pricing practices, such as charging different amounts to health plans and pharmacies, or arbitrarily reducing reimbursements. The bill also requires PBMs to disclose detailed information about their operations and fees, and establishes a reporting process to the Federal Trade Commission (FTC) and allows state attorneys general to enforce the law. Furthermore, it includes protections for whistleblowers who report potential violations.
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