Pharmacy Benefit Manager Sunshine and Accountability Act
This bill expands and otherwise modifies reporting requirements for pharmacy benefit managers (PBMs).
Current law requires PBMs that contract with plans under the Medicare prescription drug benefit or plans that are offered on state health insurance exchanges to report certain information regarding rebates, fees, and other related information. The bill applies these requirements to PBMs that contract with private health insurers, and it expands these requirements to include more specific information relating to prices and fees, such as rebates that the PBM receives from drug manufacturers that are not passed through to other entities and the highest and lowest rebate percentages the PBM receives among all its contracts.
The bill also requires the Department of Health and Human Services to annually post the information reported by PBMs on its website.