To amend title XI of the Social Security Act to enhance pharmacy benefit manager transparency requirements.

HR 7717 requires pharmacy benefit managers (PBMs) and related entities to report detailed fee information to the government and health plans. Specifically, it mandates that PBMs disclose the total fees paid by drug manufacturers, including how much is passed through to health plans, broken down by type. This applies to PBMs managing coverage under Medicare Part D plans, Medicaid, or Affordable Care Act health insurance exchanges. The law takes effect for plan years beginning January 1, 2027, and requires the government to publish an annual report summarizing this data.