Fraud and Waste in Government Spending

More than a dozen state financial officers have publicly backed a recent Department of Labor rule, promulgated during the Trump administration, that tightens disclosure and oversight requirements for pharmacy benefit managers (PBMs) and insurers in employer-sponsored health plans. The officials argue the rule clarifies fiduciary duties for plan sponsors and requires greater transparency around PBM compensation, rebate pass‑throughs and pricing arrangements so plan fiduciaries can detect fraud, waste and conflicts of interest that inflate costs for employers and beneficiaries.