Legis Daily

PBM Act

USA118th CongressS-1967| Senate 
| Updated: 6/14/2023
Robert Menendez

Robert Menendez

Democratic Senator

New Jersey

Cosponsors (7)
Roger Marshall (Republican)Marsha Blackburn (Republican)James Lankford (Republican)Jon Tester (Democratic)Cory A. Booker (Democratic)Ron Wyden (Democratic)Mike Crapo (Republican)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Patients Before Middlemen Act or the PBM Act This bill prohibits pharmacy benefit managers (PBMs) under the Medicare prescription drug benefit or Medicare Advantage from receiving any income for their services other than bona fide service fees. Specifically, PBMs may not receive any income other than flat, bona fide service fees that are specified in their contracts with prescription drug plan (PDP) sponsors. Such fees may not be based on drug prices, discounts, rebates, or any other remuneration. PBMs must turn over any excess amounts they receive to the Centers for Medicare & Medicaid Services. PDP sponsors and PBMs must annually certify their compliance with these requirements.
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Timeline
Jun 14, 2023
Introduced in Senate
Jun 14, 2023
Read twice and referred to the Committee on Finance.
Dec 11, 2024

Latest Companion Bill Action

HR 118-10362
Introduced in House
  • June 14, 2023
    Introduced in Senate


  • June 14, 2023
    Read twice and referred to the Committee on Finance.


  • December 11, 2024

    Latest Companion Bill Action

    HR 118-10362
    Introduced in House

Health

PBM Act

USA118th CongressS-1967| Senate 
| Updated: 6/14/2023
Patients Before Middlemen Act or the PBM Act This bill prohibits pharmacy benefit managers (PBMs) under the Medicare prescription drug benefit or Medicare Advantage from receiving any income for their services other than bona fide service fees. Specifically, PBMs may not receive any income other than flat, bona fide service fees that are specified in their contracts with prescription drug plan (PDP) sponsors. Such fees may not be based on drug prices, discounts, rebates, or any other remuneration. PBMs must turn over any excess amounts they receive to the Centers for Medicare & Medicaid Services. PDP sponsors and PBMs must annually certify their compliance with these requirements.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jun 14, 2023
Introduced in Senate
Jun 14, 2023
Read twice and referred to the Committee on Finance.
Dec 11, 2024

Latest Companion Bill Action

HR 118-10362
Introduced in House
  • June 14, 2023
    Introduced in Senate


  • June 14, 2023
    Read twice and referred to the Committee on Finance.


  • December 11, 2024

    Latest Companion Bill Action

    HR 118-10362
    Introduced in House
Robert Menendez

Robert Menendez

Democratic Senator

New Jersey

Cosponsors (7)
Roger Marshall (Republican)Marsha Blackburn (Republican)James Lankford (Republican)Jon Tester (Democratic)Cory A. Booker (Democratic)Ron Wyden (Democratic)Mike Crapo (Republican)

Finance Committee

Health

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted