NO PBMs Act

HR 5400, the NO PBMs Act, requires Medicare Part D prescription drug plans (PDP sponsors) and pharmacy benefit managers (PBMs) to allow any pharmacy meeting basic contract terms to join their networks. This directly affects Medicare beneficiaries by expanding their choice of pharmacies, as current networks often restrict access to specific locations. Key provisions mandate that PDP sponsors and PBMs must accept all eligible pharmacies and establish standardized "reasonable and relevant" contract terms by January 1, 2026. The bill aims to increase pharmacy access without altering drug pricing or plan benefits.