HHS establishes grace period to submit 2020 and 2021 Prescription Drug Data Collection reports
After January 2023, organizations will have to file data annually, with the next deadline coming in June.
If you missed the deadline to file your organization’s first RxDC report, don’t worry: the Departments of Health and Human Services, Labor, and Treasury has extended the deadline for filing from December 27, 2022 to January 31st, 2023. That means insurance companies and employer-based health plans have just under a month to get the necessary paperwork to the Centers for Medicare and Medicaid Services, according to an analysis from Arthur J. Gallagher & Co, an insurance broker, which called the extension “late but welcomed news.”
RxDC reports, also known as Prescription Drug Data Collection reports, became required after Congress passed the Consolidated Appropriations Act in 2021. Per the legislation, organizations must share a variety of data about prescription drugs as they relate to health plans, such as what patients pay for cost-sharing, what the most commonly used drugs are, and what rebates drug manufacturers offer.
According to the Centers for Medicare and Medicaid Services website, data from the reports will allow governmental agencies to analyze medical spending in the U.S. The reports themselves will also make drug pricing more transparent, the website suggests.
This month, stakeholders will have to file 2020 and 2021 data. Thereafter, organizations will have to file data annually, with the next deadline coming in June, according to the Gallagher analysis.
Related: Leveraging medical and Rx claims data for your employer clients
In the same document in which the government extended the deadline, they shared additional information to help companies struggling to understand reporting requirements, per the Gallagher analysis. For instance, the new release explained that if one company offers multiple health plans, they can make multiple RxDC reports, one for each plan. Likewise, multiple stakeholders can make a report for the same plan without issue.
The new government release also says that vaccine information doesn’t need to be included in the report, though it can be added if desired, according to the Gallagher analysis.