Prescription Drug Transparency and Affordability Act

This bill aims to make prescription drugs more transparent and affordable by tightening federal oversight of companies that manage prescription drug benefits for health plans. It updates federal laws so these companies are watched more closely and held to clearer rules, with a focus on transparency and affordability.

• Who is affected: people whose health plans use these companies, the plans that hire them, and the companies that provide pharmacy benefit management services.
• What changes: adds new federal oversight of “entities that provide pharmacy benefit management services,” including a dedicated section focused on that oversight.