Bill > S127

This bill, the Pharmacy Benefit Manager Transparency Act of 2023, aims to prevent unfair and deceptive acts or practices and the dissemination of false information related to pharmacy benefit management services for prescription drugs. The key provisions of the bill include: prohibiting pharmacy benefit managers (PBMs) from engaging in certain practices, such as charging health plans a different amount than they reimburse pharmacies or arbitrarily clawing back reimbursements, unless they meet certain transparency requirements; prohibiting the reporting of false or misleading information about the pharmacy benefit management industry to federal agencies; requiring PBMs to report detailed financial information to the Federal Trade Commission; and providing whistleblower protections for individuals who report potential violations of the Act. The bill also directs the Government Accountability Office to study the role and practices of PBMs in the pharmaceutical supply chain. Overall, the bill seeks to increase transparency and accountability in the pharmacy benefit management industry.

Transportation and Infrastructure

https://www.congress.gov/bill/118th-congress/senate-bill/127/all-info