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.

This bill requires the U.S. Department of Labor to create new regulations clarifying disclosure rules for payments from pharmacy benefit managers (PBMs) and third-party administrators to employer-sponsored health plans. It mandates that employers disclose both direct payments (like fees) and indirect payments (like rebates) these entities receive. The regulations must be implemented within one year of the bill becoming law. This directly affects employers who sponsor health insurance plans by requiring transparency about compensation from pharmacy service providers.