Turn on cookies to sign in
Signing in saves your progress to your Curie account. We can only do that with cookies on — turn them on to continue.
The Trump administration has finalized a rule requiring pharmacy benefit managers (PBMs) to disclose fees, rebates, and compensation to self-funded employers. The Department of Labor says the move will help employers negotiate better drug prices for workers. PBMs, however, warn the rule could raise costs and squeeze smaller players out of the market.
The Department of Labor's Employee Benefits Security Administration has finalized a rule requiring pharmacy benefit managers (PBMs) to disclose key sources of compensation — including manufacturer rebates, spread pricing arrangements, and payments recouped from pharmacies — to self-funded employers. The Trump administration says the rule is designed to help employers better negotiate drug contracts and lower prescription costs for workers and their families.
Employer groups are celebrating the move, with the ERISA Industry Committee calling it a critical step toward real visibility into what health plans actually pay. But PBMs aren't on board — the Pharmaceutical Care Management Association argues the rule creates duplicative reporting burdens on top of congressional reforms already passed earlier this year, and warns it could drive up patient costs and consolidate the industry by placing outsized compliance demands on smaller PBMs.
Key Takeaways:
Why it matters: Hidden PBM fees have long been a black box for employers footing the bill for worker prescriptions. This rule could fundamentally shift the power dynamic in drug pricing negotiations — though its real-world impact on costs remains hotly contested.
