# 119-s-3549: PBM FAIR Act

119-s-3549, PBM FAIR Act, is a 119th Congress bill sponsored by Sen. Marshall, Roger [R-KS] (R-KS); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-s-3549
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-3549
- Congress: 119
- Title: PBM FAIR Act
- Status: introduced
- Introduced: 2025-12-17
- Sponsor: Sen. Marshall, Roger [R-KS] (R-KS)
- Cosponsors: 3
- Policy area: Health
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Treats pharmacy benefit managers (PBMs) as ERISA fiduciaries for group health plans when they run networks, negotiate drug pricing, process claims, or perform utilization management.** It would also expand disclosure rules for PBMs and third-party administrators and bar indemnifying certain fiduciary breaches.

## Cosponsors (3)

- Sen. Kaine, Tim [D-VA] (D-VA), 2025-12-17T00:00:00.000Z
- Sen. Grassley, Chuck [R-IA] (R-IA), 2025-12-17T00:00:00.000Z
- Sen. Hassan, Margaret Wood [D-NH] (D-NH), 2025-12-17T00:00:00.000Z

## Provisions PRIA read

- Required PBM and TPA Pay Disclosures: benefit, low. If enacted, this bill would require covered service providers, their affiliates, and subcontractors to disclose direct and indirect pay tied to PBM and third-party administrative (TPA) services. Disclosures would cover payments tied to drug networks, formularies, drug purchases from manufacturers o…
- Pharmacy Benefit Managers as Fiduciaries: mixed, medium. If enacted, this bill would treat pharmacy benefit managers (PBMs) and similar entities as fiduciaries for group health plans when they run drug networks or formularies, buy drugs for a plan, negotiate or aggregate rebates or discounts, process and pay prescription drug claims, or perform drug util…
- No Indemnity for PBM Fiduciaries: mixed, low. If enacted, this bill would bar persons or entities deemed fiduciaries under the new PBM fiduciary rule from being indemnified or otherwise relieved from liability for fiduciary duties, except as the statute narrowly allows. Contract terms that try to indemnify such fiduciaries would be void as aga…
- Responsible Plan Fiduciary Rules: mixed, low. If enacted, this bill would generally prevent a covered service provider from being the responsible plan fiduciary for certain required disclosures. An exception would allow a pharmacy benefit manager that sponsors a plan for its own employees to be the responsible fiduciary for that plan. This rul…

## Related bills

- 119-s-1748: Kids Online Safety Act
- 119-s-2511: College Transparency Act
- 119-s-1716: Vision Lab Choice Act of 2025
- 119-s-1027: Military Spouse Hiring Act
- 119-sres-913: A resolution relating to the death of the Honorable Nancy Kassebaum, former United States Senator for the State of Kansas.
- 119-sres-897: A resolution honoring the life, service, and legacy of the Honorable Jon Llewellyn Kyl, former Senator for the State of Arizona.

## Sources
- [119-s-3549 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/3549)

## Related
- [119-s-1748: Kids Online Safety Act](https://policyrisk.com/legislation/119-s-1748)
- [119-s-2511: College Transparency Act](https://policyrisk.com/legislation/119-s-2511)
- [119-s-1716: Vision Lab Choice Act of 2025](https://policyrisk.com/legislation/119-s-1716)
- [119-s-1027: Military Spouse Hiring Act](https://policyrisk.com/legislation/119-s-1027)
- [119-sres-913: A resolution relating to the death of the Honorable Nancy Kassebaum, former Uni…](https://policyrisk.com/legislation/119-sres-913)
- [119-sres-897: A resolution honoring the life, service, and legacy of the Honorable Jon Llewel…](https://policyrisk.com/legislation/119-sres-897)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-3549 (as of 2026-04-21).