PBM Reporting Transparency Act

This bill would require the Medicare Payment Advisory Commission (MedPAC) to analyze PBM agreements and produce an initial and a final report with findings and recommendations.

• Families and beneficiaries: The reports would analyze how PBM deals affect enrollee out-of-pocket spending and average pharmacy reimbursement.
• Plan sponsors and Medicare Advantage prescription drug plans: The reviews would cover PBM agreements with plan sponsors and describe trends, averages, totals, and other contract data that affect plan operations.
• Policymakers and MedPAC: The bill sets a two-stage schedule. An initial report would come about two years after MedPAC has the data. A final report would follow two years later and describe changes over time and offer recommendations.