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PLASMA Act
3/21/2025, 2:06 PM
Summary of Bill S 694
Currently, there is a discount program in place for manufacturers of certain drugs under Medicare Part B. This bill seeks to extend this program to include plasma-derived products, which are essential for treating a variety of medical conditions.
The bill outlines a phased approach to implementing this discount program for plasma-derived products. This means that manufacturers will gradually be required to provide discounts on these products over a period of time, rather than all at once. The goal of this bill is to make these life-saving products more affordable for patients who rely on them for their medical treatment. By including plasma-derived products in the manufacturer discount program, it is hoped that patients will have better access to these essential medications. Overall, Bill 119 s 694 aims to improve access to plasma-derived products for Medicare beneficiaries by implementing a phased-in discount program for manufacturers. This bill is an important step towards making healthcare more affordable and accessible for all Americans.
Congressional Summary of S 694
Preserving Life-saving Access to Specialty Medicines in America Act or the PLASMA Act
This bill phases-in certain price adjustments for plasma-derived products under the Medicare prescription drug benefit's Manufacturer Discount Program.
Current law requires manufacturers of covered drugs under the Medicare prescription drug benefit to provide a 10% discount for covered drugs during the initial coverage phase (i.e., before a beneficiary reaches the out-of-pocket spending threshold) and a 20% discount during the catastrophic coverage phase (i.e., after a beneficiary reaches the out-of-pocket spending threshold).
The bill phases-in discounts for plasma-derived products over several years, starting with a 1% discount in 2026 for both the initial and catastrophic coverage phases, and ending with a 10% discount beginning in 2030 for the initial coverage phase and a 20% discount beginning in 2032 for the catastrophic coverage phase.
