State Financial Officers Back Trump DOL Rule Targeting PBM and Insurer Pricing Secrecy
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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.