HR-7717 : Still Just a Bill

H.R. 7717, a bill to enhance pharmacy benefit manager (PBM) transparency requirements, seeks to amend title XI of the Social Security Act to increase oversight and reporting of PBM practices. Key provisions of the bill include:

• Information Disclosure: Requires health benefits plans, PBMs, and their affiliates to provide specific information to the Secretary of Health and Human Services (HHS) and to the health benefits plans they contract with.
• Affiliate Definition: Defines "affiliate" as any entity owned, controlled, or related under common ownership with a PBM, including entities acting as price negotiators or group purchasers.
• Reporting Requirements: Expands the information PBMs must report, including the aggregate amount and percentage of rebates they receive and the amount and percentage of fees received from pharmaceutical manufacturers that are passed through to the plan sponsor or issuer.
• Annual Report: Mandates the Secretary of HHS to publish an annual report summarizing trends observed in the reported data on the Centers for Medicare & Medicaid Services (CMS) website.

The amendments made by this bill are set to apply to plan or contract years beginning on or after January 1, 2027. The Secretary of HHS is authorized to implement these amendments through program instruction or other means. The Paperwork Reduction Act does not apply to the implementation of these amendments.