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PBM Act
S. 1967, 118th Congress
- Status
- In committee
- Introduced
- 06/14/2023
- Cosponsors
- 7
- Latest action
- 06/14/2023
About this bill
- Official title
- PBM Act
- Sponsor
- Robert Menendez (D-NJ)
- Introduced in
- Senate
- Policy area
- Health
- Committees
- Finance Committee
- Latest action
- Read twice and referred to the Committee on Finance.
Summary
Congressional Research Service, Introduced in Senate (06/14/2023)
Patients Before Middlemen Act or the PBM Act
This bill prohibits pharmacy benefit managers (PBMs) under the Medicare prescription drug benefit or Medicare Advantage from receiving any income for their services other than bona fide service fees.
Specifically, PBMs may not receive any income other than flat, bona fide service fees that are specified in their contracts with prescription drug plan (PDP) sponsors. Such fees may not be based on drug prices, discounts, rebates, or any other remuneration. PBMs must turn over any excess amounts they receive to the Centers for Medicare & Medicaid Services. PDP sponsors and PBMs must annually certify their compliance with these requirements.
Actions
Newest first
- 06/14/2023 · Senate
Read twice and referred to the Committee on Finance.
- 06/14/2023
Introduced in Senate
Source: U.S. Government Publishing Office, GovInfo Bill Status; Congressional Research Service summaries · Last updated 06/14/2023