Bill > HR7717

This bill amends Title XI of the Social Security Act to enhance transparency requirements for pharmacy benefit managers (PBMs). The key provisions include: (1) requiring PBMs, their affiliates, and health benefits plans to provide the Secretary of Health and Human Services with information on PBM fees, drug rebates, and other financial arrangements; (2) adding new requirements to report the aggregate amount and percentage of fees received from pharmaceutical manufacturers and the amount and percentage of such fees passed through to plan sponsors; and (3) directing the Secretary to publicly report observed trends in the data. The amendments will apply to plan or contract years beginning on or after January 1, 2027, and the Secretary can implement the changes through program instructions.