Rx Changes: New Laws and Future Impacts to Prescription Drugs

The last few weeks have brought a number of significant changes related to prescription drugs and how they are covered under multiemployer and single-employer health plans. These include new proposed pharmacy benefit manager (PBM) disclosure regulations from January 2026 (the Proposed Regulations); the new Consolidated Appropriations Act, 2026 law (CAA 2026), signed into law on February 3, 2026; the new TrumpRx website, which launched February 5, 2026; and a February 2026 Federal Trade Commission settlement with a major PBM, Express Scripts, Inc. (ESI). That settlement could preview a fundamental change in the PBM industry.

Join us for a timely webinar discussing:

• Proposed regulations: What changes must you include in your PBM contracts to ensure compliance with ERISA? What new information must PBMs disclose to plan sponsors? What will plan sponsors do with this information?
• CAA 2026: What new reports will plan enrollees be entitled to receive from plans? What new information will PBMs automatically provide to plan sponsors, and how will plan sponsors use that new information? How will new pass-through compensation rules impact plan sponsors? How does the CAA 2026 interact with the proposed regulations?
• TrumpRx website: Will direct-to-consumer prescription drug sales impact group health plans? Must plan sponsors, third-party administrators and PBMs take into account prescription drugs purchased by plan enrollees directly from manufacturers?
• ESI settlement: What new requirements did ESI agree to? Are those changes likely to fundamentally impact the business practices of other PBMs, both large and small?