DRUG Act

Bill 119 HR 2214, also known as the "Pharmacy Benefit Manager Reform Act of 2021," aims to enhance the services offered by pharmacy benefit managers (PBMs) in the United States. PBMs are third-party administrators that work with health insurance plans to manage prescription drug benefits.

The bill includes several key provisions to improve transparency and accountability within the PBM industry. One of the main goals of the legislation is to increase oversight of PBMs and ensure that they are acting in the best interests of patients and consumers.

Some of the specific measures outlined in the bill include requiring PBMs to disclose more information about their pricing practices, including rebates and discounts they receive from drug manufacturers. This transparency is intended to help reduce costs for patients and ensure that they are getting the best possible prices for their medications. Additionally, the bill includes provisions to address potential conflicts of interest within the PBM industry. For example, it prohibits PBMs from engaging in certain practices that could lead to conflicts of interest, such as steering patients towards certain medications based on financial incentives. Overall, Bill 119 HR 2214 seeks to improve the services provided by pharmacy benefit managers and increase transparency and accountability within the industry. By implementing these reforms, the bill aims to ensure that patients have access to affordable medications and are able to make informed decisions about their healthcare.