PBM Disclosure Act

This bill amends federal law on employer-sponsored health plans (ERISA) so that brokers and consultants to these plans must disclose the direct and indirect compensation they expect to receive in connection with pharmacy benefit management services and related third party administrator services. The Secretary of Labor must issue regulations clarifying these disclosure requirements within 180 days after the bill becomes law, using a public notice and comment process. The regulations would apply to plan years beginning at least 6 months after they are issued. The bill states that Congress views this change as a clarification of an existing requirement, not a new one.

Full text and official record on Congress.gov

Sponsors

• Roger Marshall Republican sponsor
• 1 cosponsors