Decoding the PBM Reform Provisions of the 2026 Consolidated Appropriations Act
After years of legislative debate, Congress has formally codified PBM reform into federal statute. Tucked within the Consolidated Appropriations Act, 2026 (H.R. 7148), signed on February 3, 2026 are structural mandates that will reshape Pharmacy Benefit Manager (PBM) operations in Medicare Part D and the commercial sector by 2028. The legislation targets three primary pillars:…