Drug Price Transparency in Medicaid Act of 2023

Hozzl · 2023-12-15T16:06:54Z

Explore the details of Senate Bill 1038 Drug Price Transparency in Medicaid Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Health. Stay informed on legislative developments.

12/15/2023, 4:06 PM

Summary of Bill S 1038

Bill 118 s 1038, also known as the Drug Price Transparency in Medicaid Act of 2023, aims to increase transparency in drug pricing within the Medicaid program. The bill requires drug manufacturers to provide detailed information on the pricing of their drugs to the Department of Health and Human Services (HHS) and state Medicaid programs.

Under the provisions of the bill, drug manufacturers must disclose the average manufacturer price (AMP) and the best price for each drug covered by Medicaid. This information will be used to ensure that Medicaid is receiving the best possible prices for prescription drugs and to prevent price gouging by pharmaceutical companies.

Additionally, the bill requires HHS to publish an annual report on drug pricing in Medicaid, including information on the prices paid by Medicaid for the top 50 most prescribed drugs. This report will provide valuable data to policymakers and the public on the cost of prescription drugs within the Medicaid program. Overall, the Drug Price Transparency in Medicaid Act of 2023 aims to increase transparency and accountability in drug pricing within the Medicaid program, ultimately leading to lower costs for both the program and its beneficiaries.

Congressional Summary of S 1038

Drug Price Transparency in Medicaid Act of 2023

This bill requires pass-through pricing models, and prohibits spread-pricing, for payment arrangements with pharmacy benefit managers under Medicaid. The bill also extends funding for retail pharmacy surveys and requires additional information with respect to price concessions and survey participation to be made publicly available.

Read the Full Bill

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Current Status of Bill S 1038

Bill S 1038 is currently in the status of Bill Introduced since March 29, 2023. Bill S 1038 was introduced during Congress 118 and was introduced to the Senate on March 29, 2023. Bill S 1038's most recent activity was Read twice and referred to the Committee on Finance. as of March 29, 2023

Bipartisan Support of Bill S 1038

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 1038

Primary Policy Focus

Health

Potential Impact Areas

- Business records

- Congressional oversight

- Government information and archives

- Health care costs and insurance

- Home and outpatient care

- Inflation and prices

- Medicaid

- Prescription drugs

- Public contracts and procurement

- Retail and wholesale trades

- State and local government operations

- User charges and fees

Alternate Title(s) of Bill S 1038

Drug Price Transparency in Medicaid Act of 2023

A bill to amend title XIX of the Social Security Act to improve transparency and prevent the use of abusive spread pricing and related practices in the Medicaid program.