H.R. 4507 aims to amend the Employee Retirement Income Security Act of 1974 to enhance transparency in health coverage and reform pharmacy benefit management services in group health plans. It requires health plans and insurance issuers to disclose information like claims payment policies,...
Simple Explanation
H.R. 4507 wants to make it easier for people to understand health insurance and how much medicines cost by asking companies to share clear information about what they pay for. But this might be tough for smaller companies to manage because it involves lots of paperwork and rules.