The bill would amend the Employee Retirement Income Security Act to prohibit compensation paid by pharmacy benefit managers or other covered service providers for referrals, recommendations, plan-business access, or participation in specified contracting processes. Compensation to brokers, consultants, advisors, or related entities would be presumed connected to those activities unless contemporaneous written documentation shows fair-market-value payment for bona fide services unrelated to them. The amendment would apply to plan years beginning after enactment.

FactVote-generated overview; it is not an official CRS summary.