Looming Deadline For Pharmacy Reporting

The Consolidated Appropriations Act-21 (CAA) included a provision that requires group health plans (plans) and health insurance companies (issuers) to report prescription drug benefits, drug costs, and healthcare spending. Under the CAA, plans and issuers are required to submit to the United States Departments of Labor, Health and Human Services, and Treasury (the Departments) a broad array of information, such as a list of frequently dispensed prescription drugs paid under the plan, the costliest prescription drugs covered by the plan, and prescription drugs with the greatest increase in plan expenditures over the preceding plan year. Additionally, plans and issuers must also report to the Departments total spending and costs for various services and items and total premiums broken down by participant and employer payments, among other data. The deadline is quickly approaching. The last day to submit data for the 2020 and 2021 reference years is December 27, 2022,