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Proposed Legislation Would Make PBMs ERISA Fiduciaries, Require Disclosure of Compensation
Jackson Lewis P.C. 
Jan. 16, 2026 "[The PBM Fiduciary Accountability, Integrity, and Reform (FAIR) Act (S 3549)] would amend ERISA to treat [PBMs] as fiduciaries when providing services to employer-sponsored group health plans. If enacted, the legislation would impose fiduciary duties, require detailed compensation disclosures, and restrict contractual indemnification provisions that shift fiduciary risk to plans. Employers may gain increased transparency into PBM compensation structures, but should expect potential changes to PBM contracting practices and service models." MORE >> |
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