# Improving Transparency Into Pharmacy Benefit Manager Fee Disclosure

**Action Urgency Score:** 70/100

| Field | Value |
|---|---|
| Agency | Labor Department; Employee Benefits Security Administration |
| Type | Final rule |
| Action | Final rule. |
| Published | 2026-11-02 |
| Effective | 2027-01-04 |
| Significant | Yes (EO 12866) |
| CFR parts | 29 CFR 2550 |
| Summary | The Department is issuing a final regulation that will require providers of pharmacy benefit management services and affiliated providers of brokerage and consulting services to disclose information about their compensation to fiduciaries of large, self-insured group health plans subject to the Employee Retirement Income Security Act (ERISA). Pharmacy spending is a major driver of overall healthcare costs for employers and is growing faster than medical and surgical spending. These disclosure requirements apply for purposes of ERISA's statutory prohibited transaction exemption for service arra |
| Document number | 2026-22306 |

## Why this score
- Upcoming deadline.
- Significant rule under EO 12866.
- Final rule.

Source: Federal Register API (Office of the Federal Register) (https://www.federalregister.gov/documents/2026/11/02/2026-22306/improving-transparency-into-pharmacy-benefit-manager-fee-disclosure). Last refreshed: 2026-11-04T09:17:43.641Z.
Data from the Federal Register API; the published Federal Register document is authoritative. Informational only, not legal advice.