Fact Sheet: Proposed PBM Fee Disclosure Rule

The U.S. Department of Labor released a proposal under the Employee Retirement Income Security Act (ERISA) to improve transparency in fees and compensation received by pharmacy benefit managers (PBMs) and their affiliates, including affiliated providers of brokerage and consulting services. The proposed rule would require providers of pharmacy benefit management services to make detailed disclosures to fiduciaries of employer-sponsored self-insured group health plans to satisfy ERISA's statutory prohibited transaction exemption for service arrangements.