S. 1967 118th Congress Senate

PBM Act

Official title: A bill to amend title XVIII of the Social Security Act to establish requirements relating to the responsibility of pharmacy benefit managers under Medicare part D.

Introduced: July 25, 2023 See on congress.gov

Health

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jun 14, 2023

Read twice and referred to the Committee on Finance.

Jun 14, 2023

Introduced in Senate

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Latest action June 14, 2023

Read twice and referred to the Committee on Finance.

Plain-English summary Congressional Research Service

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.

Bill text 1 version