Opportunity
Federal Register #2026-22306
DOL rule on pharmacy benefit manager compensation disclosures
Buyer
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Posted
November 02, 2026
Identifier
2026-22306
The U.S. Department of Labor’s Employee Benefits Security Administration issued a final rule governing pharmacy benefit management services for covered health plans. - Government buyer: U.S. Department of Labor (DOL), Employee Benefits Security Administration (EBSA); no specific office is identified. - Opportunity type: Regulatory action, not a procurement; no purchase quantities, products, or contract value are specified. - Covered services: Pharmacy benefit management, including prescription drug benefit administration and related advice, recommendations, or referrals. - Disclosure requirements: PBMs and certain affiliated advisers must disclose compensation and related arrangements, including manufacturer payments, spread compensation, pharmacy recoupments, pricing methods, and formulary incentives. - Plan protections: Covered plan fiduciaries receive audit rights and periodic updates to support review of compensation and service arrangements. - OEMs and named vendors: None identified.
Description
The Department of Labor is issuing a final rule requiring pharmacy benefit management service providers and affiliated brokerage and consulting providers to disclose compensation information to fiduciaries of large, self-insured group health plans covered by ERISA. The disclosures are intended to help fiduciaries assess the reasonableness of service arrangements and provider compensation. The rule also requires advance disclosure of expected compensation and includes audit provisions to verify disclosure accuracy. It is effective January 4, 2027, and applies to plan years beginning on or after July 1, 2027.