Bill · S. 694· Senate(119-S-694)
PLASMA Act
- Introduced
- 2/24/2025
- Last activity
- 2/24/2025 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Thomas Tillis
- Cosponsors
- - 1 - 2
- Introduced
- In Committee
What this bill would do
This bill, known as the "PLASMA Act," seeks to amend title XVIII of the Social Security Act. It aims to provide a phase-in period for plasma-derived products under the manufacturer discount program. The legislation focuses on drugs that are biological products derived from human whole blood or plasma and were marketed as of August 16, 2022. It establishes a specific percentage for the "discounted price" of these products that changes over several years. The plan includes different percentage schedules depending on whether a beneficiary has reached certain out-of-pocket cost thresholds.
Yes· 3 of 6
Does this lower the price of prescription medicines?+6
The bill implements a multi-year phase-in of discounted prices for plasma-derived biological products.
Would people over 65 be better off under this?+5
The bill reduces the relative cost of plasma-derived drugs for Medicare beneficiaries through a scheduled phase-in.
Would retired people be better off under this?+5
The legislation lowers the cost burden of essential plasma-derived medications for retirees on Medicare.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Phase-in of Discounted Prices: The bill establishes a system where plasma-derived products are subject to a "discounted price" based on a specific percentage of the negotiated price (Section 2, subparagraph (D)(i)).
-
Gradual Price Adjustments for Beneficiaries: For those who have not reached the annual out-of-pocket threshold, the bill provides a scheduled reduction in the discounted price percentage from 99 percent in 2026 down to 90 percent by 2030 (Section 2, subparagraph (D)(iii)(I)).
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Extended Benefits for High-Cost Beneficiaries: For beneficiaries who have already incurred costs reaching the annual out-of-pocket threshold, the bill provides a more extended phase-in schedule that goes as low as 80 percent by 2032 (Section 2, subparagraph (D)(iii)(II)).
Potential Negative Impacts for People
- Exclusions from the Program: Certain drugs dispensed to LIS beneficiaries and drugs from specified small manufacturers are excluded from these phase-in provisions (Section 2, subparagraph (D)(iv)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Retirees+5Good For Seniors+5Good For Low Income Households+4
- Healthcare
- Reduces Prescription Drug Costs+6Improves Healthcare Access+3Increases Medicare Funding+1
- 4/8/2025
- 2 Cosponsors added.
- 2/24/2025
- Read twice and referred to the Committee on Finance.
- 1 Cosponsor added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Ted BuddRepublican · North Carolina
Mark KellyDemocrat · Arizona
Alex PadillaDemocrat · California