PBMs and some plan administrators would have to clearly report the money they expect to get from employer health plans and related deals. The Labor Department would have to issue rules within 180 days. Those rules would start applying to plan years that begin at least 6 months later.
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PBM Disclosure Act is a Senate bill in committee. The latest recorded action: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Latest action on S. 3349: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Who this affects: This bill mainly affects employers that sponsor health plans and the companies they hire to manage prescription drug benefits and plan administration. Employers could get more detail about how those vendors are paid. PBMs and third-party administrators may have to give clearer reports about direct and indirect payments. Workers and families in employer plans are affected more indirectly, because the bill could shape vendor choices and plan design later on.
Why this matters: This matters because employers often rely on outside companies to run prescription drug benefits, but they may not have a clear picture of all the money those companies receive. This bill tries to make those payment arrangements easier to see. That could help employers spot conflicts of interest and make better contract decisions. The bill does not promise lower drug prices, lower premiums, or better benefits, so those effects remain uncertain.
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