Bill > HR2041

This bill amends the Employee Retirement Income Security Act of 1974 to enhance transparency and disclosure requirements for employer-sponsored health plans, with a particular focus on pharmacy benefit management (PBM) services and third-party administrators. The bill requires these service providers to disclose detailed information about their compensation, including fees, rebates, discounts, and other forms of remuneration from various sources such as drug manufacturers, distributors, and other third parties. Specifically, PBMs must now provide annual, comprehensive reports that break down total drug spending, cost-sharing collections, and various types of fees collected from different sources. Third-party administrators must similarly disclose detailed information about their fees, recoveries, and compensation sources. The bill also introduces strict privacy requirements, ensuring that sensitive information is shared only with authorized parties and in compliance with existing health information privacy regulations. Additionally, the bill requires the Secretary of Labor to develop implementation rules within one year of the act's enactment, with the goal of creating clear standards for compensation disclosure. The changes will apply to new or renewed contracts entered into on or after January 1, 2026, aiming to provide employers and plan participants with greater insight into the complex financial arrangements underlying their health plans.

Education

https://www.congress.gov/bill/119th-congress/house-bill/2041/all-info