The Pharmacy Benefit Manager Transparency Act of 2025 cracks down on deceptive pricing practices by pharmacy benefit managers (PBMs)—companies that manage prescription drug benefits for health insurance plans. The bill prohibits PBMs from charging health plans different prices than they reimburse pharmacies, arbitrarily clawing back pharmacy payments, or offsetting federal price cuts through reduced pharmacy reimbursements, unless they pass savings directly to health plans and provide full transparency on drug costs and fees. PBMs must file annual reports to the Federal Trade Commission and Department of Health and Human Services detailing their pricing markups, fees, and formulary changes, while the FTC will analyze enforcement and report to Congress. The legislation establishes penalties up to $1 million per violation enforceable by the FTC and state attorneys general, provides strong whistleblower protections including jury trial rights and job reinstatement, and directs the Government Accountability Office to study PBM market competition and its effects on drug costs.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.