RxDC

A new provision in 2021 says employer-sponsored health plans and health insurance issuers are to report information about their Rx spending to the federal government annually. This reporting process is referred to as the Rx collection report (“RxDC Report”). Insurers and plans must submit information on spending, drugs that are prescribed most frequently, prescription drug rebates from manufacturers, premiums, and patient cost-sharing. Employers may rely on third parties, such as issuers, third-party administrators (TPAs), or pharmacy benefit managers (PBMs) to prepare and submit the RxDC report for their health plans. The annual deadline for the RxDC report is June 1, covering data collected in the preceding calendar year. The next RxDC report is due June 3, 2024 and will cover data for 2023. Most insurers will do this for you.