S. 1543 — Introduced in Senate

II 118th CONGRESS 1st Session S. 1543 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 pharmacy benefit management services or third-party administration services. 1. Disclosure of direct and indirect compensation for brokers and consultants to employer-sponsored health plans Not later than 1 year after the date of enactment of this Act, the Secretary of Labor shall promulgate regulations clarifying the requirements of section 408(b)(2)(B) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1108(b)(2)(B)) with respect to covered service providers (as defined in subclause (I)(bb) of such section) that are entities providing pharmacy benefit management services or third-party administration services, and begin implementing such regulations.