Medicare PBM Accountability Act

This bill requires Medicare Part D prescription drug plans and Medicare Advantage plans with drug coverage (MA-PD plans) to obtain detailed annual reports from pharmacy benefit managers (PBMs) starting in 2026. PBMs must report specific data including drug pricing (like average acquisition costs and rebates), out-of-pocket spending by seniors, cost comparisons between brand-name and generic drugs, and financial relationships with affiliated pharmacies. Plans must also audit PBM compliance annually, and the reports must be provided in machine-readable format. The bill aims to increase transparency around PBM pricing practices and drug cost structures for Medicare beneficiaries and the government, with a separate requirement for the GAO to study existing reporting burdens.