New Legislation Aims to Address Transparency in PBMs as First Major Step in Reform
The Consolidated Appropriations Act of 2026 acts as a first step in addressing prescription drug pricing challenges related to the role of pharmacy benefit managers (PBMs).
In a bipartisan effort, the Consolidated Appropriations Act of 2026 was passed by the Senate in a 71-29 vote on January 30 and signed into law on February 3.1 The law included major provisions to address the role of pharmacy benefit managers (PBMs) in the steadily increasing prices of prescription drugs for patients on Medicare Part D. With the law set to take effect in 2028, experts say that this is a good first step, but legislation will still need to be passed to address the role of PBMs in setting the price of prescription drugs for those with private insurance, with transparency a key component to helping patients understand how prices are set.