Senate Introduction of the Bipartisan PBM Price Transparency and Accountability Act
- mdrabczyk1
- 6 days ago
- 2 min read
U.S. Senators Ron Wyden (D-OR) and Mike Crapo (R-ID), along with nearly 20 of their colleagues, on Dec. 4 introduced the Pharmacy Benefit Manager (PBM) Price Transparency and Accountability Act to “fix market distortions and increase transparency in federal prescription drug programs to lower patient costs at the pharmacy counter.”
Mark Blum, managing director of the PBM Accountability Project, issued the following statement:
“We applaud Senators Crapo, Wyden and their bipartisan colleagues for listening to patients, employers and independent pharmacists who have been sounding the alarm about PBM abuses for years. These leaders are again demonstrating that reining in PBMs is a nonpartisan, must-do priority for lowering prescription drug costs and protecting patient access to care. The PBM Price Transparency and Accountability Act will put clear guardrails in place so PBMs can no longer profit from opaque spread pricing and arbitrary fees in Medicaid, or from backdoor arrangements in Medicare Part D that reward higher‑priced drugs over lower‑cost medicines.
“By banning spread pricing, requiring transparent pass‑through of pharmacy reimbursement and modernizing federal standards for essential community pharmacies, this bill helps stabilize the pharmacy safety net that millions of American seniors and families rely on. It also establishes new reporting, auditing and enforcement tools so that PBMs and their affiliates can no longer hide behind complex contracts and undisclosed revenue streams.
“Congress should move quickly to pass this legislation and get it to the president’s desk so these reforms can begin to lower costs, increase transparency and restore accountability across the prescription drug supply chain.”