Arlington, VA-The American Consumer Institute (ACI) submitted testimony to the Department of Labor (DOL) in support of the Department’s proposed rule requiring pharmacy benefit managers (PBMs) serving group plans covered by the Employee Retirement Income Security Act of 1974 (ERISA) to report standardized fee, rebate/discount, and spread pricing data.
The DOL’s rule provides an opportunity to introduce immediate transparency into a significant segment of the healthcare market. With targeted adjustments to ensure consistency with the forthcoming CAA requirements, the rule can both deliver near-term benefits and support the transition to a unified, comprehensive PBM reporting system that is more transparent and less burdensome for insurers, employers and patients.
Read ACI’s comments here.
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The American Consumer Institute is a nonprofit education and research organization.