CMS seeks input on PBM data collection for Part D plan oversight

CMS issued a formal Request for Information regarding Pharmacy Benefit Manager (PBM) compensation and data collection under Medicare Part D. This stems from the Consolidated Appropriations Act, 2026, which mandates new transparency measures for PBMs operating in the Part D program. The agency is soliciting stakeholder feedback on the types of compensation and cost data that should be reported, how it should be collected, and how it will be used for oversight of plan sponsors. The move signals increased regulatory scrutiny over the often-opaque PBM contracting practices that can impact drug access and costs for Medicare beneficiaries. Part D plan providers and entities contracting with PBMs should monitor this rulemaking for future reporting obligations.