WASHINGTON, D.C., May 21, 2026 – The ERISA Industry Committee (ERIC) today praised action by the U.S. House Education and Workforce Committee, which advanced three bills aiding employers and plans governed by the Employee Retirement Income Security Act (ERISA). The measures would increase accountability in the prescription drug supply chain, strengthen oversight of hospital billing practices, and eliminate unnecessary paperwork and red tape for employers providing retirement benefits.
“Today’s action by the committee is a reminder that good policymaking can help everyday people. By advancing these bills, the committee has taken a meaningful step to strengthen transparency and accountability in the health care system, and to make it easier for employers to provide retirement benefits to workers,” said ERIC President and CEO James Gelfand. “We urge Congress to swiftly consider and pass these bills, and deliver commonsense reforms to provide greater efficiency, accountability, and certainty for patients, workers, and employers.”
Among the legislation advanced today, ERIC supported:
- PBM Kickback Prohibition Act (H.R. 7895): Prohibits pharmacy benefit managers (PBMs) from providing kickbacks or referral fees to intermediaries in exchange for steering business to them. ERIC recently led a letter to Congress with more than 50 employer and patient organizations in support of the legislation.
- Transparency in Billing Act of 2026 (H.R.8684): Improves accountability by requiring hospitals to adopt accurate billing practices, ensuring that group health plans pay for appropriately billed services. ERIC supported the legislation ahead of the markup.
- Form 5500 Filing Simplification Act (H.R. 7362): Extends the deadline for filing Form 5500 disclosures, eliminating the need for plans to file a request for an extension, and permits electronic filing for certain reports required under ERISA and the tax code. ERIC endorsed the legislation upon introduction.
ERIC is a national advocacy organization exclusively representing the largest employers in the United States in their capacity as sponsors of employee benefit plans for their nationwide workforces. With member companies that are leaders in every economic sector, ERIC is the voice of large employer plan sponsors on federal, state, and local public policies impacting their ability to sponsor benefit plans. ERIC member companies offer benefits to tens of millions of employees and their families, located in every state and city across the country.