S 694 ยท PLASMA Act
Read twice and referred to the Committee on Finance.
- Introduced
- Feb 24, 2025
- Latest action
- Feb 24, 2025
- Sponsor
- Sen. Thomas Tillis [R-NC]
- Policy area
- Health
- Cosponsors
- 3
Summary
Preserving Life-saving Access to Specialty Medicines in America Act or the PLASMA Act This bill phases-in certain price adjustments for plasma-derived products under the Medicare prescription drug benefit's Manufacturer Discount Program. Current law requires manufacturers of covered drugs under the Medicare prescription drug benefit to provide a 10% discount for covered drugs during the initial coverage phase (i.e., before a beneficiary reaches the out-of-pocket spending threshold) and a 20% discount during the catastrophic coverage phase (i.e., after a beneficiary reaches the out-of-pocket spending threshold). The bill phases-in discounts for plasma-derived products over several years, starting with a 1% discount in 2026 for both the initial and catastrophic coverage phases, and ending with a 10% discount beginning in 2030 for the initial coverage phase and a 20% discount beginning in 2032 for the catastrophic coverage phase.
Recent actions
- Feb 24, 2025 Read twice and referred to the Committee on Finance.
- Feb 24, 2025 Introduced in Senate
Votes
No recorded votes are available for this bill.