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Pharmacy Benefit Manager Transparency Act of 2023

S. 127 Sen. Maria Cantwell (D-WA) In committee
Bill text PDF
  1. Introduced Jan 26
  2. Committee Jan 26
  3. Passed Senate Next
  4. Passed House Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, Jan 26, 2023Next: Senate vote
1050d ago Dec 13, 2023: Placed on Senate Legislative Calendar under General Orders. Calendar No. 283.
Final votes
No roll callsNo recorded vote on this bill yet
Lobbying
12companies, 16 filings
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23trades in the last 90 days
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Companies lobbying on this bill

12 companies
Companies by sector
Biotech & Pharma 7Financials 3Consumer & Retail 1Medical Devices & Healthcare 1
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Summary

Pharmacy Benefit Manager Transparency Act of 2023

Full summary5 paragraphs

This bill generally prohibits pharmacy benefit managers (PBMs) from engaging in certain practices when managing the prescription drug benefits under a health insurance plan, including charging the plan a different amount than the PBM reimburses the pharmacy.

The bill also prohibits PBMs from arbitrarily, unfairly, or deceptively (1) clawing back reimbursement payments, or (2) increasing fees or lowering reimbursements to pharmacies to offset changes to federally funded health plans.

PBMs are not subject to these prohibitions if they (1) pass along 100% of any price concession or discount to the health plan, and (2) disclose specified costs, prices, reimbursements, fees, markups, discounts, and aggregate payments received with respect to their PBM services.

Further, PBMs must report annually to the Federal Trade Commission (FTC) certain information about payments received from health plans and fees charged to pharmacies.

The FTC and state attorneys general are authorized to enforce the provisions of the bill.

Library of Congress summary, Jan 26, 2023

Summary versions
  • Introduced in SenateJan 26, 2023

Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 28, 2026.