A bill to require regulations concerning the disclosure of direct and indirect compensation from entities providing pharmacy benefit management services or third-party administration services.

II 118TH CONGRESS 1ST SESSION S. 1543 To require regulations concerning the disclosure of direct and indirect com- pensation from entities providing pharmacy benefit management services or third-party administration services. IN THE SENATE OF THE UNITED STATES MAY 10, 2023 Mr. MARSHALL introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions A BILL To require regulations concerning the disclosure of direct and indirect compensation from entities providing phar- macy benefit management services or third-party admin- istration services. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. DISCLOSURE OF DIRECT AND INDIRECT COM- 3 PENSATION FOR BROKERS AND CONSULT- 4 ANTS TO EMPLOYER-SPONSORED HEALTH 5 PLANS. 6 Not later than 1 year after the date of enactment 7 of this Act, the Secretary of Labor shall promulgate regu- 8 VerDate Sep 11 2014 23:30 May 23, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S1543.IS S1543 pbinns on DSKJLVW7X2PROD with $$_JOB 2 •S 1543 IS lations clarifying the requirements of section 408(b)(2)(B) 1 of the Employee Retirement Income Security Act of 1974 2 (29 U.S.C. 1108(b)(2)(B)) with respect to covered service 3 providers (as defined in subclause (I)(bb) of such section) 4 that are entities providing pharmacy benefit management 5 services or third-party administration services, and begin 6 implementing such regulations. 7 Æ VerDate Sep 11 2014 23:30 May 23, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S1543.IS S1543 pbinns on DSKJLVW7X2PROD with $$_JOB