Bill > HR2450

This bill establishes comprehensive oversight and transparency requirements for pharmacy benefit management (PBM) services in group health plans across three major federal laws: the Public Health Service Act, the Employee Retirement Income Security Act, and the Internal Revenue Code. The bill requires pharmacy benefit management entities to provide detailed, semi-annual reports to group health plans that include extensive information about prescription drug costs, including gross and net spending, rebates, fees, compensation paid to pharmacies, out-of-pocket costs for participants, and details about drug dispensing channels. Large employers and plans with at least 100 employees or participants will be subject to more rigorous reporting requirements. PBM entities must also ensure patient privacy, comply with existing health information protection regulations, and face significant financial penalties (up to $10,000 per day) for failing to provide required information or submitting false reports. The goal is to increase transparency in prescription drug pricing, help employers and participants better understand drug costs, and potentially reduce healthcare expenses by exposing previously opaque pricing and rebate practices in the pharmaceutical supply chain.

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https://www.congress.gov/bill/119th-congress/house-bill/2450/all-info