Bill > S4293

This bill, the Pharmacy Benefit Manager Transparency Act of 2022, aims to prevent unfair and deceptive acts or practices and the dissemination of false information related to pharmacy benefit management services for prescription drugs. Key provisions of the bill include: - Prohibiting pharmacy benefit managers (PBMs) from engaging in certain practices, such as charging health plans or payers a different amount for a drug's ingredient cost or dispensing fee than what the PBM reimburses the pharmacy, or arbitrarily reducing or clawing back reimbursement payments to pharmacies. - Requiring PBMs to fully disclose the cost, price, reimbursement, and fees related to prescription drugs and pharmacy benefit management services to health plans, payers, and pharmacies. - Prohibiting the reporting of false or misleading information about pharmacy benefit management services to federal agencies. - Mandating annual reporting by PBMs to the Federal Trade Commission on various metrics, and requiring the Commission to report to Congress on its enforcement actions and policy recommendations. - Providing whistleblower protections for individuals who report potential violations of the Act. - Authorizing the Federal Trade Commission and state attorneys general to enforce the provisions of the Act.