This week, the United States Department of Labor (DOL) issued a final rule requiring pharmacy benefit managers (PBMs) to disclose hidden fees and compensation to employers, giving them greater transparency into prescription drug costs.
In May, the Education and Workforce Committee unanimously passed my bill, the PBM Kickback Prohibition Act (H.R. 7895). The legislation prohibits PBMs from paying kickbacks to brokers and consultants in exchange for steering employers toward certain PBMs, helping eliminate conflicts of interest and lower prescription drug costs.
Americans deserve lower prescription drug costs—not hidden fees and shady kickbacks. This final rule from DOL is a monumental step in our mission to hold PBMs accountable.