DOL Issues Proposed Rule on Improving Transparency into PBM Fees

Pursuant to President Trump’s Executive Order “Lowering Drug Prices by Once Again Putting Americans First,” the Department of Labor’s (DOL’s) Employee Benefits Security Administration (EBSA) issued a proposed rule that would require providers of PBM services and affiliated entities of brokerage and consulting services to disclose direct and indirect compensation to their self-funded ERISA fiduciary clients. The government funding legislation pending in Congress also includes PBM compensation disclosure requirements, which may overlap or conflict with these proposed regulations.

We are closely reviewing the proposed rule in parallel with the PBM-related disclosures moving through Congress. We will support development of written comments by the March 31 deadline as well as drive external advocacy with our trades, coalitions, and external partners to ensure any final regulation supports transparency while remaining workable for the employers, plans, and patients we serve.