US EditionUS Labor Department proposes rule to boost transparency in pharmacy benefit manager fees
The Department of Labor’s rule requires pharmacy benefit managers to disclose fees and rebates, granting fiduciaries audit rights to improve transparency in employer health plans.
- On Jan. 29, 2026, the U.S. Department of Labor’s Employee Benefits Security Administration issued a proposed rule to increase transparency around fees collected by pharmacy benefit managers tied to employer-sponsored health plans.
- The proposal builds on President Donald Trump's April 2025 executive order and cites a November 2025 letter from Cynthia Fisher, noting PBMs often hide payments, leaving plan fiduciaries unable to assess reasonableness.
- The proposed regulation would require pharmacy benefit managers to disclose rebates and manufacturer payments, while plan fiduciaries gain audit authority and protections for noncompliance.
- Advocates say the change will lower costs for patients and employers, with Cynthia Fisher, PRA Founder and Chairman, calling it `This price transparency and middlemen fee reveal will greatly lower costs for American workers, employers, and unions,`.
- PBMs including units of CVS Health, Cigna and UnitedHealth have faced scrutiny, while PRA's statement was distributed via PR Newswire, framing transparency as market-driven reform.
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healthcaredive.com
hrdive.comLabor Department wants to strong-arm PBMs into being more transparent with employers
The DOL proposed a rule that would force pharmacy benefit managers to share a broad range of pricing and compensation information with their employer clients, calling it the most significant proposed PBM reform in decades.
LoudounTimes.com
PatientRightsAdvocate.org Applauds Trump Administration on Historic Healthcare Price Transparency Efforts for Employers and Unions
WASHINGTON, Jan. 29, 2026 /PRNewswire/ -- PatientRightsAdvocate.org (PRA) commends the Trump Administration's Department of Labor (DOL) rule to reveal all actual prices and middlemen fees charged by the insurance carriers profiteering through their pharmacy benefit manager subsidiaries.
US Labor Department proposes rule to boost transparency in pharmacy benefit manager fees
Jan 29 (Reuters) – The U.S. Department of Labor’s Employee Benefits Security Administration on Thursday issued a proposed rule aimed at increasing transparency around fees and compensation collected by pharmacy benefit managers. The move, which follows a directive under President Donald Trump’s executive order on lowering drug prices, seeks to clarify PBM business practices that affect employer-sponsored health plans covering millions of Amer…
Department of Labor releases proposed rule on transparency of PBM fee disclosures
The Department of Labor has issued a proposed rule to improve transparency of fees collected by pharmacy benefit managers. The rule requires PBMs to disclose rebates and other payments from drug manufacturers, compensation received when the price paid by a health plan for a prescription drug exceeds the amount reimbursed to the pharmacy, and payments recouped from pharmacies in connection with prescription drugs dispensed to a health plan. The p…
Labor Department proposes landmark PBM fee transparency rule
WASHINGTON — The U.S. Department of Labor on Thursday proposed a comprehensive new rule requiring pharmacy benefit managers to disclose the full extent of fees and compensation they receive. This move aims to increase transparency in prescription drug pricing for employer-sponsored health plans.Issued by the Employee Benefits Security Administration at the U.S. Department of Labor, the proposed regulation would require PBMs to provide detailed c…
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