Prescription Drug Transparency and Affordability Act

Plain-English summary

Prescription Drug Transparency and Affordability Act This bill requires pharmacy benefit managers (PBMs) to report, at least once every six months, prescription drug pricing, payment, and utilization data to the health insurance plans for which the PBM provides services. Specifically, a PBM contracted to provide services to an employer or sponsor offering a large group health insurance plan (i. e. , a plan with at least 100 employees or participants) must report to the plan certain information for prescription drug claims under the plan.

Deterministically condensed from the official CRS summary; verify details in the official record.