A bill to require regulations concerning the disclosure of direct and indirect compensation from entities providing pharmacy benefit management services or third-party administration services.

Bill 118 s 1543, also known as the "Pharmacy Benefit Management Transparency Act," is a proposed piece of legislation that aims to increase transparency in the pharmacy benefit management (PBM) industry. The bill would require regulations to be put in place that mandate the disclosure of both direct and indirect compensation from entities that provide PBM services or third-party administration services.

The main goal of this bill is to ensure that consumers and other stakeholders have access to information about how PBMs are compensated for their services. This includes not only the fees that PBMs charge directly to their clients, but also any additional compensation they may receive from drug manufacturers, pharmacies, or other entities.

By requiring this level of transparency, the bill aims to address concerns about potential conflicts of interest and ensure that PBMs are acting in the best interests of their clients and patients. This information would also help to promote competition in the PBM industry and potentially lower costs for consumers. Overall, Bill 118 s 1543 seeks to bring greater accountability and transparency to the PBM industry, ultimately benefiting consumers and improving the overall efficiency of the healthcare system.