Three House Committees Introduce PBM Drug Price Transparency Bill

New bipartisan legislation to increase pharmacy benefit manager (PBM) drug price transparency was introduced Friday by the members of the House Energy and Commerce, Ways and Means and Education and the Workforce committees.

“Our bipartisan legislation meets this moment by giving patients what they are rightfully demanding: the ability to get the right care, at the right time, at a price they know and can afford. It will lower costs by giving patients the health care price information they need to make the decisions that are best for them and their families,” said bill sponsor House Energy and Commerce Chair Cathy McMorris Rodgers (R-Wash.).

According to the committees, the bill, H.R. 5378, titled Lower Costs, More Transparency Act, would increase price transparency by requiring health insurers and PBMs to disclose negotiated drug rebates and discounts, and providing timely and accurate information about the cost of care, treatment and services.

The bill also includes provisions aimed at expanding access to more affordable generic drugs and extending funding for research to find better treatments and a cure for diabetes.

Read H.R. 5378 here.

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