The Future of Pharmacy Benefit Managers (PBMs) Legislation

Signals are coming from various members of Congress that Pharmacy Benefit Managers (PBMs) legislation will be on President Biden's desk by the end of this legislative session. Senate Majority Leader Chuck Schumer (D-N.Y.) has pledged to move a healthcare package this year, which is likely to include three major PBM bills that have emerged from key committees.

The main objective of the bills already drafted is to bring transparency into the operations of PBMs. The legislation aims to shed light on how much PBMs pay for drugs, how much they charge patients for the same drugs, and how much they retain for themselves. By creating such transparency, lawmakers hope to address concerns about rising drug prices.

To streamline the legislative process, both the Senate and the House are working to consolidate the multiple PBM draft bills into a single piece of legislation. This unified bill will then be brought to a vote in their respective chambers. 

While the exact details of the proposed legislation have yet to be finalized, the intention to address PBM practices and drug pricing is clear. 

We'll continue to monitor the progress of these bills and how they evolve throughout the legislative process. Stay tuned for further updates.