S 694 · 119th CongressIn Committeecongress.gov ↗

PLASMA Act

What this bill does

AI plain-language summary

This bill changes how discounts on plasma-derived medicines work under Medicare's prescription drug program. Right now, drug manufacturers are required to give a 10% discount on covered drugs before a patient hits their out-of-pocket spending limit and a 20% discount after that limit is reached. Instead of applying these full discounts to plasma-derived products right away, the bill would gradually increase the discounts over several years, starting at just 1% in 2026 and reaching the full 10% by 2030 and the full 20% by 2032.

Introduced

February 24, 2025

Policy Area

Health

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