PBM Reporting Transparency Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 3729 Introduced in Senate (IS)]

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119th CONGRESS
  2d Session
                                S. 3729

To require the Medicare Payment Advisory Commission (MedPAC) submit to 
Congress two reports on agreements with pharmacy benefit managers with 
          respect to prescription drug plans and MA-PD plans.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            January 29, 2026

    Mr. Warner (for himself, Mr. Tillis, Ms. Cortez Masto, and Mr. 
   Marshall) introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To require the Medicare Payment Advisory Commission (MedPAC) submit to 
Congress two reports on agreements with pharmacy benefit managers with 
          respect to prescription drug plans and MA-PD plans.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``PBM Reporting Transparency Act''.

SEC. 2. MEDPAC REPORTS ON AGREEMENTS WITH PHARMACY BENEFIT MANAGERS 
              WITH RESPECT TO PRESCRIPTION DRUG PLANS AND MA-PD PLANS.

    The Medicare Payment Advisory Commission shall submit to Congress 
the following reports:
            (1) Initial report.--Not later than the first March 15 
        occurring after the date that is 2 years after the date on 
        which the Secretary makes the data available to the Commission, 
        a report regarding agreements with pharmacy benefit managers 
        with respect to prescription drug plans and MA-PD plans. Such 
        report shall include, to the extent practicable--
                    (A) a description of trends and patterns, including 
                relevant averages, totals, and other figures for the 
                types of information submitted;
                    (B) an analysis of any differences in agreements 
                and their effects on plan enrollee out-of-pocket 
                spending and average pharmacy reimbursement, and other 
                impacts; and
                    (C) any recommendations the Commission determines 
                appropriate.
            (2) Final report.--Not later than 2 years after the date on 
        which the Commission submits the initial report under paragraph 
        (1), a report describing any changes with respect to the 
        information described in paragraph (1) over time, together with 
        any recommendations the Commission determines appropriate.
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