Bill > S2254

This bill, the Medicare PBM Accountability Act, aims to establish pharmacy benefit manager (PBM) reporting requirements with respect to prescription drug plans (PDPs) and Medicare Advantage Prescription Drug (MA-PD) plans under Medicare Part D. The key provisions include requiring PBMs to have written agreements with PDP sponsors that ensure transparency in calculating performance guarantees and cost-related metrics, and to provide detailed annual reports to PDP sponsors and the Secretary of Health and Human Services on various drug-related data, such as utilization, costs, rebates, and the relationship between PBMs and their affiliates. The bill also mandates regular audits of PBMs by PDP sponsors and includes enforcement mechanisms. Additionally, the bill directs the Government Accountability Office (GAO) to conduct a study and report on federal and state reporting requirements for health plans and PBMs related to prescription drug costs and prices.

Budget and Finance

https://www.congress.gov/bill/118th-congress/senate-bill/2254/all-info