Federal Legislation
Federal legislation is moving in several senate and house Committees. Much of it will impact your decision-making ability, cost and plan design.
Legislation concerning pharmacy benefit managers (PBMs) is making progress in Congress, with similar bills being introduced at the state level. These proposals aim to regulate Pharmacy Benefit Managers (PBMs) that collaborate with Taft-Hartley Trusts. The focus is on policies such as spread pricing and pass-through rebates, with the goal of improving profitability for pharmacies.
It is important to note that these laws extend beyond the healthcare sector and have an impact on all risk-covered funds. This approach overlaps with matters that should fall under the ERISA preemption.
Several of these laws are currently facing legal challenges, particularly in Oklahoma, where the court sought the Department of Labor's opinion on whether they would be preempted by ERISA. Unfortunately, the Department of Labor's amicus response to this challenge provided a weaker defense of preemption than expected.
As a result, there is now a growing effort to elevate the conversation to the federal level.