S.3729

Requires MedPAC to submit two reports to Congress on agreements with pharmacy benefit managers.

The PBM Reporting Transparency Act mandates the Medicare Payment Advisory Commission (MedPAC) to submit two reports to Congress regarding agreements with pharmacy benefit managers concerning prescription drug plans and Medicare Advantage Prescription Drug plans. The first report, due within two years of the Secretary making data available, will analyze trends, patterns, and differences in agreements, along with their effects on enrollee spending and reimbursement. The second report, due two years after the first, will detail any changes over time and include recommendations.