11/03/2026
Big news for PBM transparency. On October 29, the U.S. Department of Labor finalized a rule that requires pharmacy benefit managers (PBMs) to disclose how they’re paid to the employer health plans they serve.
Under the new rule, PBMs must:
🔹 Disclose rebates from drugmakers and “spread” pricing, which is the gap between what a plan pays for a drug and what the PBM pays the pharmacy
🔹 Share this when a contract is negotiated or renewed, and again every six months
🔹 Allow employers to audit those disclosures once a year
DOL estimates the rule will cut drug costs for employers and workers by $22 billion over 10 years. It applies to large self-funded plans starting in July 2027.
Pharmacists see what hidden PBM fees cost patients and community pharmacies every day. When employers can see the money, they can hold PBMs accountable. OSPA will keep pushing for PBM reform here in Oregon in the 2027 session.
🔗 https://www.dol.gov/newsroom/releases/ebsa/ebsa20261029