S. 694 (119th)Bill Overview

PLASMA Act

Health|Blood and blood diseasesDrug therapy
Cosponsors
Support
Bipartisan
Introduced
Feb 24, 2025
Discussions
Bill Text
Current stageCommittee

Read twice and referred to the Committee on Finance.

Introduced
Committee
Floor
President
Law
Congressional Activities
01 · The brief
Plain-English summaryWhat this bill actually does

The bill amends Medicare Part D (Social Security Act title XVIII) to treat plasma-derived products specially under the Part D manufacturer discount program. It defines “plasma-derived product,” creates a new “specified plasma-derived product percent,” and sets phased percentages of the negotiated price to be used as the “discounted price” for such products from 2026 through 2032 and beyond.

Why people may split

Liberal emphasizes access protection; conservatives emphasize federal intervention concerns.

Watch point

Narrow, industry-targeted change may attract coalition support but could face opposition over cost and precedent.

The bill amends Medicare Part D (Social Security Act title XVIII) to treat plasma-derived products specially under the Part D manufacturer discount program.

It defines “plasma-derived product,” creates a new “specified plasma-derived product percent,” and sets phased percentages of the negotiated price to be used as the “discounted price” for such products from 2026 through 2032 and beyond.

The phase‑in differs depending on whether a beneficiary has reached the annual out‑of‑pocket threshold; certain drugs for low‑income subsidy beneficiaries and specified small manufacturers are excluded.

Passage35/100

Technically narrow and administrable, but fiscal effects and industry tilt reduce standalone viability absent wider deal or offsets.

CredibilityPartial

How solid the drafting looks.

Contention58/100

Liberal emphasizes access protection; conservatives emphasize federal intervention concerns.

02 · What it does

Who stands to gain, and who may push back.

Likely benefits vs burdens50% / 50%
ManufacturersFederal agencies

These are examples from the analysis, not a ranked list of the most-affected groups.

Likely helped
  • ManufacturersProvides a gradual phase-in of manufacturer discount calculations for plasma products, allowing manufacturers time to a…
  • ManufacturersAims to protect patient access by reducing the risk of sudden manufacturer withdrawal or supply disruptions for plasma…
  • ManufacturersCreates clearer, year-by-year discount percentages, improving manufacturers' financial predictability for planning and…
Likely burdened
  • Federal agenciesCould increase net Part D program or federal spending depending on discount counting and reinsurance interactions.
  • Potential burdenMay shift costs onto Part D plan sponsors, potentially contributing to higher premiums for beneficiaries.
  • Potential burdenCreates differential treatment for plasma-derived products relative to other biologics, reducing pricing policy uniform…
03 · Why people split

Why the argument around this bill splits.

Liberal emphasizes access protection; conservatives emphasize federal intervention concerns.
Progressive80%

Likely viewed as a targeted adjustment to reduce abrupt financial or supply disruptions for essential plasma-derived medicines.

Supporters would see the phase-in as protecting patient access to lifesaving biological therapies while allowing time for market adjustment.

Leans supportive
Centrist60%

Views the measure as a pragmatic, technical phase‑in intended to avoid market disruption.

Would seek fiscal estimates and implementation detail to judge tradeoffs between access protection and potential cost‑shifting.

Split reaction
Conservative30%

Likely skeptical or opposed because it changes federal rules governing manufacturer financial obligations and interferes in drug pricing mechanics.

May view it as regulatory expansion that could produce unintended fiscal consequences.

Likely resistant
04 · Can it pass?

The path through Congress.

Introduced

Reached or meaningfully advanced

Committee

Reached or meaningfully advanced

Floor

Still ahead

President

Still ahead

Law

Still ahead

Passage likelihood35/100

Technically narrow and administrable, but fiscal effects and industry tilt reduce standalone viability absent wider deal or offsets.

Scope and complexity
24%
Scopenarrow
24%
Complexitylow
Why this could stall
  • No CBO cost estimate provided in text
  • Net federal spending impact magnitude
05 · Recent votes

Recent votes on the bill.

No vote history yet

The bill has not accumulated any surfaced votes yet.

06 · Go deeper

Go deeper than the headline read.

Included on this page

Liberal emphasizes access protection; conservatives emphasize federal intervention concerns.

Technically narrow and administrable, but fiscal effects and industry tilt reduce standalone viability absent wider deal or offsets.

Unlocked analysis

Pro readers get the full perspective split, passage barriers, legislative design review, stakeholder impact map, and lens-based policy tradeoff analysis for PLASMA Act.

Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.

Perspective breakdownsPassage barriersLegislative design reviewStakeholder impact map
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