Section 1 Short title
This Act may be cited as the “PBM Reporting Transparency Act”.
PBM Reporting Transparency Act
A BILL
To require the Medicare Payment Advisory Commission (MedPAC) submit to Congress two reports on agreements with pharmacy benefit managers with respect to prescription drug plans and MA–PD plans.
Sec. 2 MedPAC reports on agreements with pharmacy benefit managers with respect to prescription drug plans and MA–PD plans
The Medicare Payment Advisory Commission shall submit to Congress the following reports:
Initial report— Not later than the first March 15 occurring after the date that is 2 years after the date on which the Secretary makes the data available to the Commission, a report regarding agreements with pharmacy benefit managers with respect to prescription drug plans and MA–PD plans. Such report shall include, to the extent practicable—
a description of trends and patterns, including relevant averages, totals, and other figures for the types of information submitted;
an analysis of any differences in agreements and their effects on plan enrollee out-of-pocket spending and average pharmacy reimbursement, and other impacts; and
any recommendations the Commission determines appropriate.
Final report— Not later than 2 years after the date on which the Commission submits the initial report under paragraph (1), a report describing any changes with respect to the information described in paragraph (1) over time, together with any recommendations the Commission determines appropriate.