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EBSA said the $1.4 billion returned to plans, participants and beneficiaries represents a slight increase from the $1.384 billion recovered in fiscal year 2024.

Although it was expected to go live in late January, HHS Secretary Robert F. Kennedy Jr. announced at a cabinet meeting last week that it instead "is going to be happening sometime, probably in the next 10 days."

West Virginia began to license PBMs in 2020. In 2022, the state began to require insurers to pass all prescription drug rebates and other prescription drug discounts on to health insurance purchasers in 2022.

An Aon health benefits specialist predicts that employers will have to work harder to monitor their pharmacy benefit managers.

Late last week, the U.S. Department of Labor (DOL) filed an amicus brief urging the Third Circuit to uphold a lower court's dismissal in Barragan v. Honeywell Int'l Inc.

The former employees argue that the company was involved in self-dealing and prohibited transactions under ERISA because it designed its own funds, picked the managers, decided how assets were allocated and then collected related fees.