New US rule requires pharmacy benefit managers to disclose their pay to employer health plan fiduciaries
The Department is finalizing a rule that makes pharmacy benefit managers, plus their affiliated brokers and consultants, reveal how they are compensated. The disclosures target fiduciaries who run large, self-insured employer health plans governed by ERISA. Those fiduciaries will use the figures to decide whether their service contracts and the providers' pay are reasonable.
This summary was generated by AI; the official source prevails.
What does it mean?
If your employer funds its own health plan, the people responsible for that plan will get clearer details on what the companies handling prescription drugs earn. That lets them check whether those charges are fair.
Who is affected?
Sponsors and fiduciaries of large, self-insured group health plans, and the pharmacy benefit managers and related brokers and consultants that serve them.