This bill would prevent the federal government from contracting with prescription drug plan sponsors that work with pharmacy benefits managers (PBMs) that have financial interests in pharmacies. The legislation targets a practice where PBMs, which manage prescription drug benefits and negotiate drug prices for insurance plans, also own or control pharmacies, creating a potential conflict of interest. The restriction would take effect five years after the bill becomes law, though the Secretary of Health and Human Services could delay implementation by up to two additional years. The bill applies to Medicare Part D prescription drug plans and is intended to increase competition in the pharmacy benefits management industry by preventing these companies from simultaneously managing drug benefits and owning pharmacies. The legislation was introduced in December 2023 and referred to the House committees on Energy and Commerce and Ways and Means.
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