PLASMA Act
- Bill Number
- S. 694
- Origin Chamber
- Senate
- Congress
- 119th Congress, Session 1
- Policy Area
- Health
- Status
- Introduced
- Latest Action
- 2025-02-24: Read twice and referred to the Committee on Finance.
- Last Updated
- 2025-12-05T22:48:17Z
Official 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.
Sponsor
Cosponsors (3)
Sen. Kelly, Mark [D-AZ], Sen. Budd, Ted [R-NC], Sen. Padilla, Alex [D-CA]
Recent Actions
- 2025-02-24: Read twice and referred to the Committee on Finance.
- 2025-02-24: Introduced in Senate
Bill Versions
- Preserving Life-saving Access to Specialty Medicines in America Act — issued 2025-02-24 — PDF (5 pages)