[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 3349 Introduced in Senate (IS)]

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119th CONGRESS
  1st Session
                                S. 3349

To clarify the requirement to disclose direct and indirect compensation 
 from entities providing pharmacy benefit management services or third 
                     party administration services.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            December 4, 2025

   Mr. Marshall (for himself and Ms. Blunt Rochester) introduced the 
 following bill; which was read twice and referred to the Committee on 
                 Health, Education, Labor, and Pensions

_______________________________________________________________________

                                 A BILL


 
To clarify the requirement to disclose direct and indirect compensation 
 from entities providing pharmacy benefit management services or third 
                     party administration services.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``PBM Disclosure Act''.

SEC. 2. CLARIFICATION OF REQUIREMENT TO DISCLOSE DIRECT AND INDIRECT 
              COMPENSATION FOR BROKERS AND CONSULTANTS TO EMPLOYER-
              SPONSORED HEALTH PLANS.

    (a) In General.--Section 408(b)(2)(B)(ii)(I)(bb) of the Employee 
Retirement Income Security Act of 1974 (29 U.S.C. 
1108(b)(2)(B)(ii)(I)(bb)) is amended by adding at the end the 
following:
            ``(CC) Pharmacy benefit management services provided by 
        pharmacy benefit managers or other service providers and 
        related services provided by third party administrators (or 
        other entities providing such services) for which the covered 
        service provider, an affiliate, or a subcontractor reasonably 
        expects to receive indirect compensation or direct compensation 
        described in item (dd).''.
    (b) Regulations.--Not later than 180 days after the date of 
enactment of this Act, the Secretary of Labor shall promulgate 
regulations, through notice and comment rulemaking, clarifying the 
requirements of section 408(b)(2)(B) of the Employee Retirement Income 
Security Act of 1974 (29 U.S.C. 1108(b)(2)(B)) with respect to covered 
service providers providing services described in subitem (CC) of 
subclause (I)(bb) of such section, as amended by subsection (a). Such 
regulations shall apply with respect to any plan year that begins on or 
after the date that is 6 months after such regulations are promulgated.
    (c) Sense of Congress.--It is the sense of Congress that the 
amendment made by subsection (a) clarifies the existing requirement of 
covered service providers with respect to services described in section 
408(b)(2)(B)(ii)(I)(bb)(BB) of the Employee Retirement Income Security 
Act of 1974 (29 U.S.C. 1108(b)(2)(B)(ii)(I)(bb)(BB)) that were in 
effect since the application date described in section 202(e) of the No 
Surprises Act (Public Law 116-260; 29 U.S.C. 1108 note), and does not 
impose any additional requirement under section 408(b)(2)(B) of the 
Employee Retirement Income Security Act of 1974 (29 U.S.C. 
1108(b)(2)(B)).
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