Prohibits kickbacks to pharmacy benefit managers under the Employee Retirement Income Security Act.
The PBM Kickback Prohibition Act amends the Employee Retirement Income Security Act of 1974 to prohibit any compensation paid by pharmacy benefit managers to brokerage firms, brokers, consultants, advisors, or individuals for referrals. This change aims to ensure that pharmacy benefit management services are not influenced by kickbacks, affecting the relationships between covered plans, health insurance issuers, and service providers. The amendment applies to plan years beginning after the enactment of this Act.
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