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Mid-Year Updates on PBM Legislation

The Senate Finance Committee recently passed a pharmacy benefit managers (PBM) reform package, one of the most significant steps towards potential changes in the industry.

The bill, the Modernizing and Ensuring PBM Accountability Act, contains 8 sections aimed at regulating PBMs in the Medicare Part D, Medicare Advance, and Medicaid spaces. The bill requires PBMs to be regulated directly by CMS, giving the agency jurisdiction not just over the Part D Plan Sponsors (with whom it contracts directly), but also PBMs (who contract with Part D Plan Sponsors).

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