Senate bill · S. 694 (119th Congress)
PLASMA Act
U.S. Senate
Sponsor: Thom Tillis (U.S. Senator for North Carolina, Republican)
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From Congress.gov and official rosters. This record was last updated Jul 30, 2026. About our data
Summary
Preserving Life-saving Access to Specialty Medicines in America Act or the PLASMA Act This bill phases-in certain price adjustments for plasma-derived products under the Medicare prescription drug benefit's Manufacturer Discount Program. Current law requires manufacturers of covered drugs under the Medicare prescription drug benefit to provide a 10% discount for covered drugs during the initial coverage phase (i.e., before a beneficiary reaches the out-of-pocket spending threshold) and a 20% discount during the catastrophic coverage phase (i.e., after a beneficiary reaches the out-of-pocket spending threshold). The bill phases-in discounts for plasma-derived products over several years, starting with a 1% discount in 2026 for both the initial and catastrophic coverage phases, and ending with a 10% discount beginning in 2030 for the initial coverage phase and a 20% discount beginning in 2032 for the catastrophic coverage phase.
Summary from the Congressional Research Service. How we handle summaries
Where it stands
Assigned to a committee for review.
- Introduced
- In committee
- Up for a vote
- Passed one chamber
- Passed
- Enacted
Committee
Senate Committee on Finance · U.S. Senate
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Cosponsors
3
Cosponsors listed on Congress.gov, shown A to Z.
- Democratic2
- Republican1
This bill has cosponsors from more than one party.
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Related bills
As identified by Congress.gov.
Full history
- Feb 24, 2025
Introduced
Introduced in U.S. Senate
U.S. Senate
- Feb 24, 2025
Referred to committee
Read twice and referred to the Committee on Finance.
- Feb 24, 2025
Referred to committee
Read twice and referred to the Committee on Finance.
- Feb 24, 2025
Referred to committee
Read twice and referred to the Committee on Finance.
Read the record
- Read on Congress.gov (opens in a new tab) The official record on Congress.gov.