PBMs Urge DOL to Withdraw Rule on Drug Intermediary Profits

A Department of Labor proposal is pitting pharmacy benefit managers and insurers against employers as the industry pushes to withdraw the rule’s transparency requirements around PBM revenue.

If finalized, the rule from the Employee Benefits Security Administration would force PBMs to disclose compensation they receive to health plan sponsors, including profits from drugmaker rebates and pharmacy contracts. PBMs would also be required to clarify their fiduciary roles to plan sponsors and their power to change drug formularies, as well as disclose any conflicts of interest.

The Pharmaceutical Care Management Association, which represents PBMs, warned regulators in comments on the rule ...