S 694
PLASMA Act
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.
Bill status
- Status
- In committee
- Sponsor
- Sen. Thomas Tillis [R-NC]
- Cosponsors
- 3
- Policy area
- Health
- Introduced
- 2025-02-24
- Latest action
- 2025-02-24: Read twice and referred to the Committee on Finance.
Committee referrals
Recent actions
- 2025-02-24: Read twice and referred to the Committee on Finance.
- 2025-02-24: Introduced in Senate