Harshbarger Co-Leads Bipartisan PBM Reform Bill

WASHINGTON, DC - Last week, Representative Harshbarger (R-TN) joined her fellow pharmacist in Congress Representative Buddy Carter (R-GA) in introducing his bipartisan PBM Reform Act which would protect patients and pharmacies from the harmful and anticompetitive business practices of pharmacy benefit managers (PBM).

"It's time to put an end to the shady and manipulative practices of pharmacy benefit managers. For too long, PBMs have driven up drug prices and padded their pockets while independent community pharmacies are being pushed to the financial brink. My colleagues and I are committed to changing that. This legislation delivers long-overdue accountability, increases transparency, lowers out-of-pocket costs for families, and saves taxpayer dollars. Local pharmacies and the patients they serve are at a breaking point, and they deserve relief. I'm proud to join my colleagues in introducing this bill and look forward to passing real PBM reform that will deliver for both patients and providers," said Rep. Diana Harshbarger.

The PBM Reform Act would:

• Ban "spread pricing" in Medicaid and move to a transparent system that ensures pharmacies are fairly and adequately reimbursed for serving Medicaid beneficiaries.
• Establish new requirements for PBMs under Medicare Part D, including a policy to delink PBM compensation from the cost of medications and increase transparency.
• Promote transparency for both employers and patients in their prescription drug plans, with semi-annual reporting on drug spending, rebates, and formulary determinations.
• Require Centers for Medicare and Medicaid Services (CMS) to define and enforce "reasonable and relevant" contract terms in Medicare Part D pharmacy contracts and enforce oversight on reported violations.

Original Co-Sponsors include: Buddy Carter (R-GA), Debbie Dingell (D-MI), Greg Murphy (R-NC), Deborah Ross (D-NC), Jodey Arrington (R-TX), Vicente Gonzalez (D-TX), Rick Allen (R-GA), Raja Krishnamoorthi (D-IL), John Rose (R-TN), Derek Tran (D-CA), and Nicole Malliotakis (R-NY).