119-s694

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 694 Introduced in Senate

    (IS) ]

<DOC>

119th CONGRESS
 1st Session
 S. 694

 To amend title XVIII of the Social Security Act to provide a phase-in 
 for plasma-derived products under the manufacturer discount program.

_______________________________________________________________________

 IN THE SENATE OF THE UNITED STATES

 February 24, 2025

 Mr. Tillis (for himself and Mr. Kelly) introduced the following bill; 
 which was read twice and referred to the Committee on Finance

_______________________________________________________________________

 A BILL

 To amend title XVIII of the Social Security Act to provide a phase-in 
 for plasma-derived products under the manufacturer discount program.

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

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Preserving Life-saving Access to 
Specialty Medicines in America Act'' or the ``PLASMA Act''.

SEC. 2. PHASE-IN FOR PLASMA-DERIVED PRODUCTS UNDER MANUFACTURER 
 DISCOUNT PROGRAM.

 

Section 1860D-14C

    (g)

    (4) of the Social Security Act (42 U.S.C. 
1395w-114c

    (g)

    (4) ) is amended--

    (1) in subparagraph
        (A) , in the matter preceding clause
            (i) , by striking ``and
            (C) '' and inserting ``,
            (C) , and
            (D) '';

    (2) by redesignating subparagraphs
            (D) and
        (E) as 
 subparagraphs
        (E) and
        (F) , respectively; and

    (3) by inserting after subparagraph
            (C) the following:
 ``
            (D) Phase-in for plasma-derived products.--
 ``
            (i) In general.--For 2026 and subsequent 
 years, subject to clause
            (iv) , in the case of 
 an applicable drug of a manufacturer that is a 
 plasma-derived product (as defined in clause
            (ii) ), and that is marketed as of August 16, 
 2022, and dispensed for an applicable 
 beneficiary, the term `discounted price' means 
 the specified plasma-derived product percent 
 (as defined in clause
            (iii) ) of the negotiated 
 price of the applicable drug of the 
 manufacturer.
 ``
            (ii) Plasma-derived product.--In this 
 subparagraph, the term `plasma-derived product' 
 means an applicable drug that is a biological 
 product that is derived from human whole blood 
 or plasma.
 ``
            (iii) Specified plasma-derived product 
 percent.--In this subparagraph, the term 
 `specified plasma-derived product percent' 
 means, with respect to a year--
 ``
            (I) for an applicable drug that 
 is a plasma-derived product dispensed 
 for an applicable beneficiary who has 
 not incurred costs, as determined in 
 accordance with 

section 1860D-
 2

    (b)

    (4)
            (C) , for covered part D drugs in 
 the year that are equal to or exceed 
 the annual out-of-pocket threshold 
 specified in 

section 1860D-
 2

    (b)

    (4)
        (B)
            (i) for the year--
 ``

    (aa) for 2026, 99 
 percent;
 ``

    (bb) for 2027, 98 
 percent;
 ``
            (cc) for 2028, 95 
 percent;
 ``
            (dd) for 2029, 92 
 percent; and
 ``

    (ee) for 2030 and each 
 subsequent year, 90 percent; 
 and
 ``
            (II) for an applicable drug that 
 is a plasma-derived product dispensed 
 for an applicable beneficiary who has 
 incurred costs, as determined in 
 accordance with 

section 1860D-
 2

    (b)

    (4)
            (C) , for covered part D drugs in 
 the year that are equal to or exceed 
 the annual out-of-pocket threshold 
 specified in 

section 1860D-
 2

    (b)

    (4)
        (B)
            (i) for the year--
 ``

    (aa) for 2026, 99 
 percent;
 ``

    (bb) for 2027, 98 
 percent;
 ``
            (cc) for 2028, 95 
 percent;
 ``
            (dd) for 2029, 92 
 percent;
 ``

    (ee) for 2030, 90 
 percent;
 ``

    (ff) for 2031, 85 
 percent; and
 ``

    (gg) for 2032 and each 
 subsequent year, 80 percent.
 ``
            (iv) Limitations.--This subparagraph 
 shall not apply with respect to the following:
 ``
            (I) Certain drugs dispensed to 
 lis beneficiaries.--An applicable drug 
 described in subparagraph
        (B)
            (i) .
 ``
            (II) Specified small 
 manufacturers.--An applicable drug 
 described in subparagraph
            (C) 
            (i) .''.
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