Improving Transparency Into Pharmacy Benefit Manager Fee Disclosure
Built by the Tribune's code from the Federal Register. No AI wrote this page. Published in the Federal Register Jan. 30, 2026. Document 2026-01907. Updated Nov. 15, 2026.
- What it does
The Department is proposing a regulation that would require providers of pharmacy benefit management services and affiliated providers of brokerage and consulting services to disclose information about their compensation to fiduciaries of self-insured group health plans subject to the Employee Retirement Income Security Act (ERISA). These disclosures are needed so that fiduciaries can assess the reasonableness of the contracts or arrangements with these service providers, including the reasonableness of the service providers' compensation. These disclosure requirements would apply for purposes of ERISA's statutory prohibited transaction exemption for services arrangements. This proposal implements section 12 of President Trump's Executive Order 14273, Lowering Drug Prices by Once Again Putting Americans First, which instructs the Department to propose regulations to improve employer health plan transparency into the direct and indirect compensation received by pharmacy benefit managers. If finalized, this regulation would affect sponsors and other fiduciaries of self-insured group health plans and certain service providers to such plans.
The Employee Benefits Security Administration's summary, as published in the Federal Register.
- What it would change
1 part of Title 29 of the Code of Federal Regulations:
- Before this
No earlier Federal Register document under regulation identifier 1210-AB37 since Jan. 1, 2025.
Since then:
- What happens next and when
Comments are due on or before March 31, 2026.
The agency's dates, word for word.
The record as published
| Document number | 2026-01907 |
|---|---|
| Action | Proposed rule. |
| Agencies | Labor Department; Employee Benefits Security Administration |
| Published | Jan. 30, 2026 |
| Comments close | March 31, 2026 |
| Regulation identifier (RIN) | 1210-AB37 |
| Docket | EBSA-2026-0001 |
| Significant (marked in the Federal Register) | Yes |
Source: the Federal Register (public domain). The document in the Federal Register