# Drug-Price Transparency for Consumers Act of 2023

This bill requires pharmaceutical companies and health insurance plans to be more open about drug prices so that patients and the public can actually understand what medications cost. Right now, drug prices are often hidden behind complicated contracts and negotiations between manufacturers, insurance companies, and pharmacy benefit managers. This bill aims to pull back the curtain and make that pricing information available to everyday people.

Specifically, the bill would require drug manufacturers to publicly disclose the prices they charge for medications, including any rebates or discounts they offer to insurance companies and other buyers. Insurance plans would also have to share information about what they're paying for drugs and what patients are expected to pay out of pocket. The goal is to give consumers, doctors, and policymakers a clearer picture of the actual cost of medications so they can make more informed decisions and potentially identify when prices are unreasonably high.

The practical impact for most people would be the ability to comparison shop for medications and understand why their prescriptions cost what they do. If you're paying $200 a month for a drug, you could potentially look up what others are paying or what the manufacturer is actually charging. This transparency could also help identify situations where prices seem unfair or where cheaper alternatives exist. Additionally, having this public information available might put pressure on drug companies to keep prices more reasonable, knowing their pricing will be visible to competitors and the public.

The bill affects pharmaceutical manufacturers most directly, as they would need to comply with new disclosure requirements, but the real beneficiaries are patients and consumers who currently have little visibility into why medications cost so much.

Drug-price Transparency for Consumers Act of 2023

Durbin, Richard J.

Drug-price Transparency for Consumers Act of 2023 or the DTC Act of 2023 This bill requires consumer advertisements for drugs and biologicals to include certain price information if the drug or biological is (1) covered under Medicare or Medicaid, and (2) required to include a risk summary under current law. The requirement does not apply to advertisements for drugs or biologicals with a wholesale cost of less than $35 for a one-month supply. Each violation of this requirement is subject to a civil penalty of not more than $100,000.