Pharmacy benefit managers transparency requirements

42 U.S. Code § 1320b-23. Pharmacy benefit managers transparency requirements

(a) Provision of informationA health benefits plan or any entity that provides pharmacy benefits management services on behalf of a health benefits plan (in this section referred to as a “PBM”) that manages prescription drug coverage under a contract with—
(1)
a PDP sponsor of a prescription drug plan or an MA organization offering an MA–PD plan under part D of subchapter XVIII; or
(2)
a qualified health benefits plan offered through an exchange established by a State under section 18031 of this title,
shall provide the information described in subsection (b) to the Secretary and, in the case of a PBM, to the plan with which the PBM is under contract with, at such times, and in such form and manner, as the Secretary shall specify.
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