David Marin

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Labor Department finalizes pharmacy benefit manager disclosure rule

Opposing the rule on behalf of PBMs

For years, employers could not see how much of their workers' drug spending their pharmacy benefit manager (PBM) kept in hidden rebates and fees. On Thursday the Labor Department finalized a rule forcing those middlemen to disclose their compensation to self-insured employers.

Updated 1 hour ago

Notable Quotes

It is a solution in search of a problem.

from Labor Department finalizes pharmacy benefit manager disclosure rule · Updated 1 hour ago

Full PBM transparency is also now federal law, following the enactment of sweeping PBM reform earlier this year. Drug-by-drug, claim-by-claim, pharmacy-by-pharmacy transparency is already law. All of this has long made the DOL's desire to create another reporting system unnecessary, redundant, and extraordinarily burdensome, particularly for smaller PBMs.

from Labor Department finalizes pharmacy benefit manager disclosure rule · Updated 1 hour ago