S 3549
Pbm fair act
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 8:42 AM
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- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The PBM Fiduciary Accountability, Integrity, and Reform (FAIR) Act aims to increase accountability for pharmacy benefit managers (PBMs) operating within employer-sponsored health plans. It designates PBMs as ERISA fiduciaries if they negotiate drug prices, manage prescription drug formularies, or process claims on behalf of a plan. The bill also requires PBMs to disclose compensation arrangements and prohibits them from being indemnified for breaches of fiduciary duty. Finally, it clarifies who is responsible for plan fiduciary duties and establishes a timeline for when the changes will take effect.
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