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.

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Timeline

1. 24 February 2025

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 24 February 2025

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

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Documents

2 official files

• Introduced in Senate

  Introduced in Senate · EN · 24 February 2025

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 24 February 2025

  Open at official source

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Sponsors

• Sen. Tillis, Thomas [R-NC] · R · Sponsor
• Sen. Kelly, Mark [D-AZ] · D · Sponsor
• Sen. Budd, Ted [R-NC] · R · Cosponsor
• Sen. Padilla, Alex [D-CA] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → PLASMA Act