PBM Disclosure Act
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill clarifies that ERISA compensation-disclosure rules for employer-sponsored health plans cover pharmacy benefit management services and requires the Labor Department to issue implementing regulations.
Who Benefits and How
Employer-sponsored health plans and plan fiduciaries could get clearer visibility into the direct and indirect compensation connected to pharmacy benefit management services.
Who Bears the Burden and How
Pharmacy benefit managers, related service providers, and the Labor Department would face clarified disclosure and rulemaking obligations tied to PBM compensation.
Key Provisions
- Adds pharmacy benefit management services and related third-party administrator services to ERISA's covered compensation-disclosure category.
- Requires the Secretary of Labor to issue clarifying regulations through notice-and-comment rulemaking within 180 days.
- Applies the regulations to plan years beginning at least 6 months after promulgation.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers.
At a Glance
What This Bill Does
This bill clarifies that ERISA compensation-disclosure rules for employer-sponsored health plans cover pharmacy benefit management services and requires the Labor Department to issue implementing regulations.
Key Policy Areas
Healthcare, Government Administration
Primary Purpose
This bill clarifies that ERISA compensation-disclosure rules for employer-sponsored health plans cover pharmacy benefit management services and requires the Labor Department to issue implementing regulations.
Policy Domains
Main Provisions
Identified Gains
Contextual inference, no direct clause citation- Employer-sponsored health plans and fiduciaries seeking clearer PBM compensation disclosures
Contextual inference, no direct clause citation
Identified Costs
Contextual inference, no direct clause citation- Pharmacy benefit managers, related service providers, and Labor Department officials implementing the clarified disclosure rules
Contextual inference, no direct clause citation
Sponsors
Legislative Progress
In CommitteeMr. Marshall (for himself and Ms. Blunt Rochester) introduced the …
Read twice and referred to the Committee on Health, Education, …
Introduced in Senate
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Pharmacy benefit managers and related service providers subject to clearer compensation-disclosure rules
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_secretary"
- → Secretary of Labor
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology