Your PBM Has Some Explaining to Do: What the 2026 CAA Forces PBMs to Reveal

Pharmacy benefit managers (PBMs) play a significant role in managing prescription drug benefits by establishing pharmacy networks, negotiating rebates with drug manufacturers, developing drug formularies, and processing prescription drug claims.1 Recent federal developments have expanded transparency and reporting obligations for PBMs and created new compliance responsibilities for plan sponsors.... By: Jenner & Block