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
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.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Section 1. Short title
This Act may be cited as the PBM Reporting Transparency Act
.
Sec. 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.