This episode was filmed on March 19, 2026.

The healthcare benefits industry is changing faster than it has in years...

In this episode of The EOB Podcast, Justin and Julie break down the growing pressure facing Pharmacy Benefit Managers (PBMs), including the FTC settlement involving Express Scripts, new Department of Labor transparency proposals, the impact of CAA 2026, and emerging fiduciary litigation that could reshape the healthcare benefits landscape.

Topics include:

• FTC action against PBMs and what it means for employers

• Spread pricing, rebate retention, and hidden compensation

• The proposed DOL PBM transparency rule

• Why fiduciary responsibility is becoming impossible to ignore

• Direct contracting and the future of employer-sponsored healthcare

• The role of transparency in reducing healthcare costs

• What employers should be doing right now to protect their plans

Justin and Julie also discuss why healthcare affordability has become a bipartisan issue, how employers can gain leverage during contract negotiations, and why simply accepting the status quo is no longer a viable strategy.

If you're an employer, HR leader, CFO, advisor, benefits professional, or healthcare industry stakeholder, this episode is packed with practical insights on where the market is heading next.

Because one thing is becoming increasingly clear:

The healthcare industry is changing, and employers need to be ready.