Public Law 115-262 | Public Law 115–262: To amend title XVIII of the Social Security Act to prohibit Medicare part D plans from restricting pharmacies from informing individuals regarding the prices for certain drugs and biologicals.

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132 STAT.3670

PUBLIC LAW 115–262—OCT. 10, 2018

132 STAT. 3670

Public Law

115–262

115th Congress

An Act

To amend title XVIII of the Social Security Act to prohibit Medicare part D plans from restricting pharmacies from informing individuals regarding the prices for certain drugs and biologicals.

Oct. 10, 2018

[S. 2553]

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

Know the Lowest Price Act of 2018.

SECTION 1.

42 USC 1305 note.

SHORT TITLE.

This Act may be cited as the “

Know the Lowest Price Act of 2018

”.

SEC. 2.

PROHIBITION ON LIMITING CERTAIN INFORMATION ON DRUG PRICES.

(a)

In General.—

Section 1860D–4 of the Social Security Act (42 U.S.C. 1395w–104)

is amended

adding

at the end the following new subsection:

“(m)

Prohibition on Limiting Certain Information on Drug Prices.—

A PDP sponsor and a Medicare Advantage organization shall ensure that each prescription drug plan or MA–PD plan offered by the sponsor or organization does not restrict a pharmacy that dispenses a prescription drug or biological from informing, nor penalize such pharmacy for informing, an enrollee in such plan of any differential between the negotiated price of, or copayment or coinsurance for, the drug or biological to the enrollee under the plan and a lower price the individual would pay for the drug or biological if the enrollee obtained the drug without using any health insurance coverage.”

.132 STAT. 3671

(b)

42 USC
1395w–104 note.
Effective Date.—

The amendment made by subsection (a) shall apply to plan years beginning on or after January 1, 2020.

Approved October 10, 2018.

LEGISLATIVE HISTORY—S. 2553:

CONGRESSIONAL RECORD, Vol. 164 (2018):

Sept. 4, considered and passed Senate.

Sept. 25, considered and passed House.

DAILY COMPILATION OF PRESIDENTIAL DOCUMENTS (2018):

Oct. 10, Presidential remarks.

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