New federal rule forces pharmacy benefit managers to share payment data
The Trump administration finalized a regulation Thursday requiring pharmacy benefit managers to disclose fees and compensation starting July 1, 2027.
Scope of the new disclosure rule
Federal officials estimate this requirement will apply to more than 70 pharmacy benefit managers. The rule covers roughly 130,000 employers that hire these middlemen to oversee prescription drug spending. Disclosures must include drug rebates and spread pricing from drugmakers and other entities.
Expected financial impact on costs
Officials project the changes will save more than $800 million annually through lower drug costs. The data sharing aims to unlock information currently held under protection. Clients will see all different ways these managers get paid.
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