A bill to require the Secretary of Labor to conduct a study on the fiduciary duties of pharmacy benefit managers.

Bill 118 s 3330, titled "A bill to require the Secretary of Labor to conduct a study on the fiduciary duties of pharmacy benefit managers," aims to investigate the responsibilities and obligations of pharmacy benefit managers (PBMs) in relation to their fiduciary duties. PBMs are entities that manage prescription drug benefits on behalf of health insurers, employers, and government programs.

The bill mandates that the Secretary of Labor conduct a comprehensive study to assess the fiduciary duties of PBMs, including their obligations to act in the best interests of their clients and beneficiaries. The study will examine how PBMs negotiate drug prices, manage formularies, and handle rebates and other financial arrangements with drug manufacturers.

The goal of the study is to provide policymakers with a better understanding of the role and impact of PBMs in the healthcare system, and to identify any potential conflicts of interest or areas where regulatory oversight may be needed. The findings of the study will be used to inform future legislative and regulatory efforts to ensure transparency and accountability in the PBM industry. Overall, Bill 118 s 3330 seeks to promote greater transparency and accountability in the operations of PBMs, with the ultimate goal of improving access to affordable prescription drugs for all Americans.