The PLASMA Act (Preserving Life-saving Access to Specialty Medicines in America Act) modifies how Medicare Part D handles discounts on plasma-derived products, which are medications made from human blood or plasma. The bill creates a phase-in period for these products under the existing manufacturer discount program, meaning manufacturers would provide reduced discounts on plasma-derived drugs rather than the full discount amounts required for other medications. The bill primarily affects Medicare beneficiaries who use plasma-derived drugs and manufacturers of these medications, potentially making these treatments more affordable for some seniors while allowing manufacturers to maintain higher prices during a transition period. The discount amounts would vary depending on whether beneficiaries have reached their annual out-of-pocket spending limits for prescription drugs. The legislation does not include specific funding allocations or implementation timelines beyond requiring application when the law is enacted.
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