(29 U.S.C. 1185 et seq.) is amended by 
adding at the end the following: 
‘‘SEC. 
716. 
PHARMACY 
BENEFITS 
MANAGER 
TRANS-
PARENCY 
AND 
PROPER 
OPERATION 
RE-
QUIREMENTS. 
‘‘The provisions of section 2729 of the Public Health 
Service Act shall apply to a group health plan, and a 
health insurance issuer providing health insurance cov-
erage in connection with a group health plan, in the same 
manner as such provisions apply to a group health plan 
and a health insurance issuer providing health insurance 
coverage under that section.’’. 
(ii) 
CLERICAL
AMENDMENT.—The 
table of contents in section 1 of the Em-
ployee Retirement Income Security Act of 
1974 is amended by inserting after the 
item relating to section 714 the following: 
‘‘Sec. 715. Additional market reforms. 
‘‘Sec. 716. Pharmacy benefits manager transparency and proper operation re-
quirements.’’. 
(B) IRC AMENDMENT.— 
(i) IN GENERAL.—Subpart B of chap-
ter 100 of the Internal Revenue Code of 
1986 (26 U.S.C. 9811 et seq.) is amended 
by adding at the end the following: 
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‘‘SEC. 
9814. 
PHARMACY 
BENEFITS 
MANAGER 
TRANS-
PARENCY 
AND 
PROPER 
OPERATION 
RE-
QUIREMENTS. 
‘‘The provisions of section 2729 of the Public Health 
Service Act shall apply to a group health plan, and a 
health insurance issuer providing health insurance cov-
erage in connection with a group health plan, in the same 
manner as such provisions apply to a group health plan 
and a health insurance issuer providing health insurance 
coverage under that section.’’. 
(ii) 
CLERICAL
AMENDMENT.—The 
table of sections for subpart B of chapter 
100 of the Internal Revenue Code of 1986 
is amended by inserting after the item re-
lating to section 9813 the following new 
item: 
‘‘Sec. 9814. Pharmacy benefits manager transparency and proper operation re-
quirements.’’. 
(3) EFFECTIVE DATE.—The amendments made 
by paragraphs (1) and (2) shall apply with respect 
to health insurance coverage offered, sold, issued, re-
newed, in effect, or operated in the individual mar-
ket on or after the date of enactment of this Act. 
(c) MEDICARE PRESCRIPTION DRUG PLANS.— 
(1) IN GENERAL.—Subpart 2 of part D of title 
XVIII of the Social Security Act (42 U.S.C. 1395w– 
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111 et seq.) is amended by adding at the end the 
following: 
‘‘SEC. 1860D–17. PHARMACY BENEFITS MANAGER TRANS-
PARENCY 
AND 
PROPER 
OPERATION 
RE-
QUIREMENTS. 
‘‘The provisions of section 2729 of the Public Health 
Service Act shall apply to health insurance coverage of-
fered by a prescription drug plan under this part in the 
same manner as such provisions apply to a group health 
plan and a health insurance issuer providing health insur-
ance coverage under that section.’’. 
(2) EFFECTIVE DATE.—The amendment made 
by this subsection shall apply with respect to plan 
years beginning on or after the date of enactment of 
this Act. 
Æ 
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