S.640 - Phair Pricing Act of 2019116th Congress (2019-2020) |
|Sponsor:||Sen. Kennedy, John [R-LA] (Introduced 03/04/2019)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 03/04/2019 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.640 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (03/04/2019)
Phair Pricing Act of 2019
This bill requires that certain negotiated prices for covered drugs under the Medicare prescription drug benefit be disclosed at the point-of-sale.
Specifically, negotiated prices offered under a prescription drug plan (PDP) must be disclosed at the point-of-sale; the disclosed price must include specified adjustments, payments, and fees that are negotiated with the pharmacy (e.g., dispensing fees) by the PDP sponsor or pharmacy benefit manager.
Additionally, the Centers for Medicare & Medicaid Services must establish certain quality measures for PDP sponsors to use when determining incentive payments and adjustments (e.g., performance payments) to pharmacies.