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HR 4846 118th Congress House Taxation Business records Civil actions and liability Employee benefits and pensions Government information and archives Government studies and investigations Health care costs and insurance Health information and medical records Prescription drugs Right of privacy

Better Deals and Lower Prices Act

Introduced: July 25, 2023 Introduced by: Arrington, Jodey C. Republican · Texas See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 17, 2024
Referred to the Subcommittee on Health.
Jul 28, 2023
Referred to the Subcommittee on Health.
Jul 25, 2023
Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jul 25, 2023
Introduced in House
 Plain-English summary Congressional Research Service

Better Deals and Lower Prices Act

This bill establishes reporting requirements for pharmacy benefit managers (PBMs) with respect to services provided to health insurance plans.

First, PBMs must report annually to the plan sponsor certain information about the PBM's services, including the amount of prescription drug copayment assistance funded by drug manufacturers, a list of covered drugs billed under the plan during the reporting period, and the total gross and net spending by the health plan on prescription drugs during the reporting period. PBMs also must submit specified elements of the report (e.g., the total gross spending on prescription drugs) to the Government Accountability Office (GAO). The report must comply with the privacy requirements under the Health Insurance Portability and Accountability Act of 1996.

The bill establishes civil penalties for violations of these requirements and provides for enforcement by the appropriate agencies.

GAO must report on the pharmacy networks of plans or PBMs, including whether such networks under common ownership with the plans or PBMs are designed to encourage plan enrollees to use network pharmacies over other pharmacies.

What's happening now December 17, 2024

Referred to the Subcommittee on Health.

 Committees of jurisdiction 5