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Drug Price Transparency in Medicaid Act of 2023

Source: Congress.gov  ·  1,969 words in original text
This bill changes how Medicaid pays for prescription drugs to make pricing more transparent and stop unfair pricing practices. The bill requires states and pharmacy benefit managers (companies that manage prescription drug benefits for health plans) to use a specific payment method called "pass-through pricing" when they contract with each other or with managed care entities (health insurance plans).
States running Medicaid programs, pharmacy benefit managers, managed care entities, retail community pharmacies, specialty pharmacies, and individuals receiving Medicaid benefits who need prescription drugs.
- States and pharmacy benefit managers must use pass-through pricing models where the amount paid for drugs is limited to ingredient cost plus a professional dispensing fee, and this full amount must go directly to the pharmacy (Sec. 2(a)(1)) - Administrative fees paid to pharmacy benefit managers must be reasonable and cover only the actual cost of providing administrative services, and spread pricing (keeping the difference between what the plan pays and what the pharmacy receives) is not allowed (Sec. 2(a)(1)) - Pharmacy benefit managers and managed care entities must share all costs and payments information with the state and federal government, including ingredient costs, fees, discounts, and all other money they receive related to prescription drugs (Sec. 2(a)(1)) - The federal government must survey retail pharmacy drug prices monthly to determine national average drug acquisition costs and must make this pricing information publicly available (Sec. 2(b)(1)) - All retail community pharmacies receiving any payment related to Medicaid prescription drugs must respond to price surveys conducted by the government (Sec. 2(b)(1))
When this law takes effect, states cannot pay pharmacy benefit managers using models that allow them to keep money as profit on the difference between what they pay pharmacies and what they charge the state. Instead, all money must flow directly to pharmacies. States must also publish national drug pricing information so the public can see what drugs actually cost. The government will conduct monthly surveys of pharmacy prices and require pharmacies to participate in these surveys.
Spread pricing: A payment method where a pharmacy benefit manager or managed care entity charges the state more for a drug than it pays the pharmacy, keeping the difference as profit (Sec. 2(a)(1)) Pass-through pricing: A payment model where the full amount paid for a drug's ingredient cost and dispensing fee goes directly to the pharmacy, with no markup kept by the intermediary company (Sec. 2(a)(1)) Pharmacy benefit manager: A company that manages prescription drug benefits on behalf of a state or health plan (Sec. 2(a)(1))
The pass-through pricing requirements apply to contracts entered into or renewed 18 months after the bill becomes law (Sec. 2(a)(3)). The pharmacy payment accuracy improvements take effect on the first day of the first quarter that begins 18 months after the bill becomes law (Sec. 2(b)(2)).
Important: This plain English summary was generated by AI and is provided for informational purposes only. It is not legal advice. Always consult the official bill text on Congress.gov or a qualified attorney for legal matters.