The Department of Labor has announced a Request for Information “seeking public input on the implementation of a new law requiring the collection and publication of data on pharmacy benefits and prescription drug costs, including input on the data elements to be collected and the associated impact on health plans and issuers.”
The law in question is Title II Division BB of the Consolidated Appropriations Act of 2021. As we have previously reported, effective December 27, 2021, all plans, except church plans, must disclose to the Departments of Labor, Health and Human Services, and Treasury, i.e. the “tri-agencies,” a list of their 50 most frequently dispensed prescription drugs, their 50 most costly prescription drugs, and their 50 prescription drugs with the greatest percentage increase in plan expenditure. Each plan must also disclose their total spend on prescription drugs, by plan, by enrollee, and the amount of rebates and fees received for each therapeutic class of drug.
The Request for Information is an opportunity for all interested stakeholders to provide input regarding the anticipated challenges that plans and issuers will face in meeting the law’s reporting obligations, whether plans and issuers currently have access to all the information that the plan/issuer is required to report, whether there should be different considerations for insured versus self-funded plans, and other considerations.
The deadline for comments is 5:00 PM on July 23, 2021.
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