Prescription Drug Transparency and Affordability Act
About This Bill
Committee
Latest Action · March 27, 2025
Referred to the Committee on Energy and Commerce, and in addition to the Committees on Education and Workforce, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
H.R. 2450 requires pharmacy benefit managers (PBMs) to provide detailed transparency reports to health plans and insurers about drug pricing, rebates, and related payments, beginning 30 months after the bill becomes law. These reports must be submitted at least every six months (or quarterly upon request) and must include drug-by-drug pricing information, manufacturer rebates, out-of-pocket costs for patients, broker compensation, and details about affiliated pharmacies compared to non-affiliated ones, all presented in plain language and machine-readable formats. Large employers and health plans can request additional comprehensive reporting, and all information must comply with federal privacy laws (HIPAA) while remaining available to federal agencies for oversight. Violations carry civil penalties of up to $10,000 per day for non-disclosure and up to $100,000 per false statement, enforced by the Department of Health and Human Services. The legislation aims to help employers and insurers better evaluate whether PBMs are managing drug costs effectively and identifying potential conflicts of interest in their operations.
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