Us Congress 2023-2024 Regular Session

Us Congress Senate Bill SB1543

Introduced
5/10/23  

Caption

A bill to require regulations concerning the disclosure of direct and indirect compensation from entities providing pharmacy benefit management services or third-party administration services.

Impact

If enacted, SB1543 would significantly impact the regulations surrounding employer-sponsored health plans. The bill seeks to clarify existing obligations under the Employee Retirement Income Security Act (ERISA) regarding service provider compensation. This could lead to changes in reporting practices and accountability measures for PBMs, thereby influencing how these entities operate within the broader healthcare framework. As the Secretary of Labor is tasked with promulgating these regulations within one year of enactment, (anticipated implementation could lead to quicker assessments and adjustments by employers), the bill intends to promote a more transparent healthcare system.

Summary

SB1543 is a legislative bill that mandates the Secretary of Labor to implement regulations regarding the disclosure of direct and indirect compensation from entities that provide pharmacy benefit management (PBM) services or third-party administration services. The purpose of the bill is to enhance transparency in the healthcare sector, particularly focusing on relationships between employers, service providers, and the beneficiaries of health plans. By requiring detailed disclosures, the bill aims to enable employers to make informed decisions regarding their healthcare plans and potentially foster competition among service providers.

Contention

While the bill has support from various stakeholders advocating for healthcare transparency, there may also be points of contention, particularly regarding the PBM industry’s response to increased regulatory scrutiny. Opponents might argue that such regulations could impose undue burdens on service providers, potentially impacting their pricing structures and operational flexibility. Furthermore, the effectiveness of these regulations in truly enhancing transparency and competition in healthcare may be debated. Stakeholders will likely engage in discussions around balancing the need for disclosure against operational efficiency and cost considerations.

Companion Bills

No companion bills found.

Previously Filed As

US SB1339

Pharmacy Benefit Manager Reform Act

US SB127

Pharmacy Benefit Manager Transparency Act of 2023

US HB358

Small Business Regulatory Flexibility Improvements Act This bill modifies the rulemaking requirements and procedures of federal agencies under the Regulatory Flexibility Act of 1980 and the Small Business Regulatory Enforcement Fairness Act of 1996, including how agencies consider economic impact with respect to small entities. Specifically, the bill requires agencies to consider the direct, and the reasonably foreseeable indirect, economic effect of a rule on small entities when determining whether a rule is likely to have a significant economic impact. Further, the regulatory flexibility analysis for rules with a significant economic impact must include a detailed description of alternatives to a proposed rule that minimize any adverse significant economic impact or maximize any beneficial significant economic impact on small entities. The bill also expands the types of agency actions (e.g., revisions to land management plans) that are subject to a regulatory impact analysis. The bill removes the authority for an agency to waive the regulatory flexibility analysis requirements and requires the Office of Advocacy of the Small Business Administration to issue rules for compliance with such requirements. The bill also modifies the procedures for the (1) gathering of comments for a proposed rule, (2) periodic review of agency rules, and (3) judicial review of final rules.

US HB153

Family Integrity to Reform Elections Act or the FIRE Act This bill prohibits the use of campaign funds to compensate the immediate family member of a candidate or an individual holding federal office. It also requires disclosure of payments made to immediate family members. Specifically, the bill prohibits an authorized committee of a candidate or any other political committee that is established, maintained, or controlled by a candidate or an individual holding federal office from directly or indirectly compensating the immediate family member of the candidate or individual for services provided to or on behalf of the committee. The prohibition does not apply to a political committee of a political party. Next, the bill requires a political committee to report on disbursements to an immediate family member of the candidate or the individual holding federal office. Finally, the bill requires any penalty for a violation of the bill to be imposed on the candidate or the individual holding federal office if the candidate or individual involved knew of the violation. Further, it prohibits the committee involved from reimbursing the candidate or individual for the penalty.

US HB5150

To direct the Secretary of Defense to submit to Congress a report evaluating beneficiary access to TRICARE network pharmacies.

US SB10

VA Clinician Appreciation, Recruitment, Education, Expansion, and Retention Support (CAREERS) Act of 2023 This bill addresses Department of Veterans Affairs (VA) personnel matters and the training, recruitment, and retention of VA health care employees. Among other requirements, the VA must expand various staff training efforts and programs; comply with certain notification and staffing requirements when a VA medical center director is on detail; prescribe a system of pay for individuals appointed as directors of medical centers and directors of Veterans Integrated Service Networks; and establish a consolidated annual leave account for certain VA employees with restored leave during 2020, 2021, and 2022. The bill also authorizes the VA to waive pay limitations for employees of the Veterans Health Administration (VHA) who are performing mission critical work; increases the maximum amount of incentive pay for pharmacist executives; modifies the special pay authority for nurse executives and the administration of pay for VA physicians, podiatrists, optometrists, and dentists; authorizes a waiver of certain licensure requirements for psychologists and mental health counselors in certain circumstances; requires the Inspector General of the VA to study and report on the use of direct hire authority, the contributions made by the use of such authority, and any vulnerabilities or inconsistencies with respect to the use of such authority; includes VA police officers as law enforcement officers for purposes of the federal retirement system; and requires the Government Accountability Office to report on human resources modernization conducted by the VHA.

US HB1770

Equitable Community Access to Pharmacist Services Act

US HB499

Securing American Families and Enterprises from People's Republic of China Investments Act or the SAFE from PRC Investments Act This bill requires certain issuers of securities and funds traded on an exchange to report on connections to China or the Communist Party of China. In particular, an issuer with specified connections to China must annually disclose a variety of details, including whether executive-level employees, senior directors, or board members are members of the Communist Party of China; interactions with the party; expenditures in China; expenditures in the United States regarding operations and lobbying activities; and the ability of the Public Company Accounting Oversight Board to audit the issuer. Additionally, an exchange-traded fund that invests in a Chinese company must annually disclose about that company ownership information, party involvement, whether the company participates in specified Chinese policies or activities, any ties to U.S.-sanctioned individuals, and the types of products or services produced by the company.

US HB2679

Pharmacy Benefits Manager Accountability Act

US HB261

Article I Regulatory Budget Act This bill requires the establishment of a federal regulatory budget to limit the costs of federal regulations. It also establishes requirements for disclosing the projected costs of federal regulations and procedures for enforcing the regulatory budget.

Similar Bills

No similar bills found.