Pharmacy Benefit Manager Transparency Act of 2025

# Pharmacy Benefit Manager Transparency Act of 2025 - Summary **What the Bill Would Do** This bill would increase transparency and oversight of Pharmacy Benefit Managers (PBMs)—companies that manage prescription drug benefits for health insurance plans. The legislation would require PBMs to disclose more information about how they operate, including details about drug pricing decisions, rebates they receive from drug manufacturers, and fees they charge. It would also authorize Congress and relevant government agencies to investigate PBM practices and could allow individuals to take legal action against PBMs for certain violations. **Who It Affects** The bill would impact PBMs, pharmaceutical companies, health insurance providers, and ultimately patients and consumers who purchase prescription medications.

Anyone with prescription drug coverage through an insurance plan could be affected, as PBMs influence which drugs are covered and at what cost. **Key Provisions and Current Status** Key provisions include mandatory disclosure requirements for PBM practices, government study and investigation authority, and potential civil liability for violations. The bill was introduced by Senator Chuck Grassley (R-IA) and is currently in committee, meaning it has not yet been voted on by the full Senate. This is an early stage in the legislative process, and the bill may be modified or may not advance further.