White in Insurance Business: PBM transparency data is coming, but does anyone read it?

Originally published in Insurance Business Magazine on August 28, 2026.

Requirements to provide new data to help employers assess the financial impacts of pharmacy benefit manager (PBM) agreements is incoming.

But while the Consolidated Appropriations Act, 2026 (CAA 2026) will require PBMs to hand plan sponsors detailed data on spread pricing, rebate flows, and cost structures by January 2029, a critical question remains unanswered.

Once that data arrives, who is actually responsible for understanding it?

That accountability gap is the central challenge facing plan sponsors, benefits brokers, and legal counsel as the industry prepares for one of the most significant pharmacy benefit reforms in years, according to Bryn White, an employee benefits attorney at Endeavor Law in Kansas City, Missouri, who’s been speaking with Insurance Business Benefits.