Managed Healthcare Executive January 14, 2026
Key Takeaways
- SB 41 imposes fiduciary duties on PBMs, prohibiting spread pricing and requiring full rebate pass-throughs to health plans.
- CalPERS’ contract with CVS Caremark includes performance guarantees for cost management and clinical quality, with $250 million at risk.
- Legal challenges to SB 41 cite ERISA preemption, questioning the law’s applicability to self-funded plans.
- Industry leaders emphasize the need for genuine transparency in PBM practices, amid skepticism about current transparency efforts.
Beginning this month, PBMs in California must prioritize health plan interests over their own, and CVS Caremark’s CalPERS contract includes $250 million in performance guarantees.
A new law in California and a new contract for the state’s retiree healthcare program highlight a shift in PBM accountability. Beginning...
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