H.R. 4846 · 118th Congress
Better Deals and Lower Prices Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
ArringtonSponsorNo cosponsors.
This bill establishes reporting requirements for pharmacy benefit managers (PBMs) with respect to services provided to health insurance plans.
What it does: CRS summary · Introduced in House · Jul 25, 2023
Better Deals and Lower Prices Act
This bill establishes reporting requirements for pharmacy benefit managers (PBMs) with respect to services provided to health insurance plans.
First, PBMs must report annually to the plan sponsor certain information about the PBM's services, including the amount of prescription drug copayment assistance funded by drug manufacturers, a list of covered drugs billed under the plan during the reporting period, and the total gross and net spending by the health plan on prescription drugs during the reporting period. PBMs also must submit specified elements of the report (e.g., the total gross spending on prescription drugs) to the Government Accountability Office (GAO). The report must comply with the privacy requirements under the Health Insurance Portability and Accountability Act of 1996.
The bill establishes civil penalties for violations of these requirements and provides for enforcement by the appropriate agencies.
GAO must report on the pharmacy networks of plans or PBMs, including whether such networks under common ownership with the plans or PBMs are designed to encourage plan enrollees to use network pharmacies over other pharmacies.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Better Deals and Lower Prices Act
Latest action (Dec 17, 2024): Referred to the Subcommittee on Health.
Policy area: Taxation · Origin: House · Introduced: Jul 25, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.