Increased Pharmacy Choice and Drug Price Transparency in Medicare Part D.
This law aims to improve pharmacy access and potentially lower drug costs for Medicare Part D beneficiaries by regulating Pharmacy Benefit Managers (PBMs). It mandates that plans accept any willing pharmacy meeting standard terms and requires PBMs to disclose all financial arrangements, eliminating hidden fees. Citizens gain more options for filling prescriptions and benefit from greater cost transparency and competition.
Key points
More Pharmacy Options: Medicare Part D plans must include any pharmacy that meets reasonable contract terms, supporting local and independent pharmacies, especially in underserved areas.
Ending Hidden Fees: PBMs can only earn income through transparent, flat service fees; any other hidden revenue must be returned (disgorged) to the Medicare plans.
Drug Cost Transparency: PBMs must provide detailed reports on drug costs, rebates, and fees retained by them, aiming to drive down prices for patients and improve oversight.
Anti-Retaliation Protection: Pharmacies can report violations of contract terms by PBMs without fear of losing their network participation.
Introduced
Additional Information
Print number: 119_S_882
Sponsor: Sen. Blackburn, Marsha [R-TN]
Process start date: 2025-03-06