A bill to amend title XVIII of the Social Security Act to require prompt payment to pharmacies under part D, to restrict pharmacy co-branding on prescription drug cards issued under such part, and to provide guidelines for Medication Therapy Management Services programs offered by prescription drug plans and MA-PD plans under such part.

Pharmacist Access and Recognition in Medicare (PhARM) Act of 2006 - Amends part D (Voluntary Prescription Drug Benefit Program) of title XVIII (Medicare) of the Social Security Act to require prompt payment of clean claims to pharmacies by prescription drug plans and Medicare Advantage prescription drug plans. Defines prompt payment as within 14 days from submission for claims submitted...