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Prescription Drug Reporting Requirements in

The Consolidated Appropriations Act of 2023

The Consolidated Appropriations Act requires employers who sponsor health plans to report certain information regarding prescription drug benefits to the Secretary of Health and Human Services. If you’re a self-funded employer, the FH Insurance team can help you navigate these complicated requirements. This reporting requirement is intended to increase transparency in prescription drug pricing and to provide data to support negotiations between health plans and pharmaceutical manufacturers.

Prescription Drug Reporting Requirements

in the consolidated appropriations act of 2023

  • the total number of covered lives under the plan

  • the total amount paid for prescription drugs

  • the total amount of rebates received from pharmaceutical manufacturers

  • the total number of prescription drug claims paid by the plan

Meet with an FH Insurance Compliance Expert

We know compliance can be complicated. Our team of experts is here to provide you and your employees with support regarding this confusing act. To learn how the FH Insurance Total Benefits Success Team can help you make sure you are compliant, click below to schedule a free consultation. 

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