Pharmacy Benefit Manager Accountability Bill
Official: To amend the Employee Retirement Income Security Act of 1974 to ensure that pharmacy benefit managers are considered fiduciaries, and for other purposes.
This bill makes pharmacy benefit managers responsible for their actions and requires them to be transparent about their earnings. It aims to protect health plans and their members from potential conflicts of interest.
1. This bill would require pharmacy benefit managers to act in the best interest of health plans. 2. It would ensure these managers disclose any compensation they receive for their services. 3. The bill would prevent pharmacy benefit managers from avoiding responsibility for their actions. 4. It would clarify who is responsible for managing health plans involving pharmacy benefit managers. 5. The bill would establish rules for how pharmacy benefit managers handle prescription drug pricing.
This bill affects patients who rely on prescription medications and the health plans that cover them.