PLASMA Act

The Preserving Life-saving Access to Specialty Medicines in America Act , or PLASMA Act , proposes to amend Title XVIII of the Social Security Act to introduce a specific phase-in mechanism for certain plasma-derived products within the Medicare Part D manufacturer discount program. This legislation targets biological products derived from human whole blood or plasma that were already marketed as of August 16, 2022. Its primary goal is to gradually adjust the 'discounted price' that manufacturers provide for these essential medicines, aiming to ensure continued access. The phase-in schedule for these products begins in 2026, with the discounted price initially set at 99% of the negotiated price. For beneficiaries who have not yet reached their annual out-of-pocket threshold, the discounted price will progressively decrease to 90% by 2030. Conversely, for beneficiaries who have exceeded this threshold, the discounted price will continue to decrease further, reaching 80% by 2032. This special phase-in provision does not apply to drugs provided to low-income subsidy beneficiaries or those from specified small manufacturers.