Press Releases

Today, Education and Workforce Committee Chairman Tim Walberg (R-MI) applauded the Department of Labor's final rule requiring pharmacy benefit managers (PBMs) to disclose hidden fees and compensation to employers, giving them greater transparency into prescription drug costs.
 
“For too long, PBMs have been able to hide behind complicated pricing schemes while hardworking Americans pay the price,” said Chairman Walberg. “President Trump and Secretary Sonderling are putting an end to that secrecy and giving employers the information they need to get a better deal for their workers. The Committee has been working to crack down on these shady practices, and today's announcement is another important step toward lowering prescription drug costs for American families.”
 
Background:
In May, the Education and Workforce Committee unanimously passed PBM Kickback Prohibition Act (H.R. 7895), introduced by Health, Employment, Labor, and Pensions (HELP) Subcommittee Chairman Rick Allen (R-GA). The legislation prohibits PBMs from paying kickbacks to brokers and consultants in exchange for steering employers toward certain PBMs, helping eliminate conflicts of interest and lower prescription drug costs.
 
In April, the HELP Subcommittee held a hearing examining how PBMs use hidden fees, kickbacks, and complicated pricing arrangements that can drive up prescription drug costs for workers and their families.