US SB927

Requires the Secretary of Health and Human Services to conduct monthly surveys of both retail community pharmacies and non-retail pharmacies (mail-order, specialty) to establish national average drug acquisition cost benchmarks for Medicaid reimbursement

Mandates transparent "pass-through" pricing for pharmacy benefit managers (PBMs) and managed care entities, requiring that drug payments to pharmacies include only ingredient costs plus professional dispensing fees, with no spread pricing allowed

Establishes civil money penalties up to $100,000 per violation for pharmacies that fail to respond to pricing surveys or provide false information

Appropriates $5 million for fiscal year 2026 for HHS Inspector General oversight of pharmacy survey data, and $9 million annually for ongoing survey operations

Takes effect 6 months after enactment for retail pharmacies and 18 months after enactment for non-retail pharmacies and PBM contract requirements