Attorney General Jay Jones joined a bipartisan group of 44 attorneys general on Apr. 17 in supporting a proposed U.S. Department of Labor rule that would increase transparency from pharmacy benefit managers (PBMs) serving employer-funded health plans under the Employee Retirement Income Security Act of 1974. The coalition submitted a comment letter backing stronger disclosure requirements for PBMs and requested clarification that the federal rule does not override state laws on PBM transparency.
The issue is significant as the top three PBMs currently manage about 80 percent of prescription drug claims nationwide, affecting costs and access to medications for millions. All fifty states, the District of Columbia, and Puerto Rico have enacted laws addressing concerns with PBMs, including limiting patient out-of-pocket expenses and banning clauses that prevent pharmacists from informing patients about lower-cost options.
“We’re living in a time when Virginians especially are pinching every single penny to afford basic necessities like medications, food, and fuel. They deserve to have transparency from pharmacy benefit managers, and they deserve to pay reasonable prices for their life-saving medications,” Attorney General Jones said. “It is beyond time to reform and improve this system and keep costs low for local pharmacies so that higher prices are not passed on to consumers.”
The attorneys general also asked the Department of Labor to confirm its willingness to work with them in enforcing the new rule if it is adopted. The letter requests assurance that nothing in the regulation would prevent cooperation between federal authorities and state attorneys general regarding enforcement or investigation related to state law violations.
PBMs were originally created in the late 1960s just to process prescription drug claims but now play an expanded role by negotiating rebates with manufacturers, determining coverage lists, and influencing overall drug pricing structures for health insurers. About 136 million Americans receive health insurance through employers or family members’ jobs; many employers report limited insight into how PBMs operate or why drug prices fluctuate.
Jones’s office supports civil rights enforcement, victim assistance programs, legal counsel for state agencies, public safety promotion, consumer protection resources against identity theft or fraud reporting, advocacy against human trafficking and domestic violence—all serving residents across Virginia—according to information available on the official website. Miyares holds the position as Virginia’s 48th Attorney General according to the official website.
