"DOL has proposed a regulation under ERISA section 408(b)(2) that would require PBMs to provide specific initial and semiannual disclosures to plan fiduciaries of employer-sponsored self-insured group health plans, according to a fact sheet. Further, the proposal would permit -- but not require -- plan fiduciaries to audit the disclosures annually, providing them with the tools to verify the accuracy of the information provided by PBMs. Finally, relief is proposed for plan fiduciaries in the event their PBM fails to meet its obligations under the regulation."  MORE >>