PBM Reporting Transparency Act

119 S3729 IS: PBM Reporting Transparency Act U.S. Senate 2026-01-29 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. II 119th CONGRESS 2d Session S. 3729 IN THE SENATE OF THE UNITED STATES January 29, 2026 Mr. Warner (for himself, Mr. Tillis , Ms. Cortez Masto , and Mr. Marshall ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To require the Medicare Payment Advisory Commission (MedPAC) submit to Congress two reports on agreements with pharmacy benefit managers with respect to prescription drug plans and MA–PD plans. 1. Short title This Act may be cited as the PBM Reporting Transparency Act . 2. MedPAC reports on agreements with pharmacy benefit managers with respect to prescription drug plans and MA–PD plans The Medicare Payment Advisory Commission shall submit to Congress the following reports: (1) Initial report Not later than the first March 15 occurring after the date that is 2 years after the date on which the Secretary makes the data available to the Commission, a report regarding agreements with pharmacy benefit managers with respect to prescription drug plans and MA–PD plans. Such report shall include, to the extent practicable— (A) a description of trends and patterns, including relevant averages, totals, and other figures for the types of information submitted; (B) an analysis of any differences in agreements and their effects on plan enrollee out-of-pocket spending and average pharmacy reimbursement, and other impacts; and (C) any recommendations the Commission determines appropriate. (2) Final report Not later than 2 years after the date on which the Commission submits the initial report under paragraph (1), a report describing any changes with respect to the information described in paragraph (1) over time, together with any recommendations the Commission determines appropriate.