"The SPARC Act will create a clear and functional MSP system for Part D drugs, benefitting
"MARC applauds Congressmen Murphy and Kind for introducing the SPARC Act," said
The SPARC Act -- H.R. 6120 -- creates a more efficient and effective system for all involved by:
- Permitting Part D Drug Plans to secure a clear recovery right from settling parties to recover past payments for prescription drugs covered by a later settlement, saving PDPs and the government significant funds by allowing greater recoveries faster;
- Increasing fairness to beneficiaries by reducing recoveries for procurement costs, consistent with other federal laws, and aligning incentives so that Plans only pursue those claims where a recovery will exceed the cost of collection;
- Restoring sense to the program by allowing plans to waive secondary payer provisions if costs of recovery exceed the amount to be recovered;
Requires Centers for Medicare and Medicaid Service(CMS) within 15 days of receipt to pass settlement information to Plans to timely coordinate benefits, and requires drug plans to instruct pharmacies to bill entities that have accepted an ongoing responsibility to pay for medical benefits, thus avoiding plans paying for drugs when others are responsible; and
- Leveraging the SMART Act expedited repayment procedures, involves Plans in the expedited repayment process, bringing finality to all involved in settling claims with beneficiaries.
"Enactment of the SPARC Act will produce a triple win.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/marc-coalition-supports-introduction-of-the-secondary-payer-advancement-rationalization-and-clarification-act-sparc-act--hr-6120-300342743.html