; or (II) any entity that is owned, affiliated, or related under a common ownership structure with a person, business, or entity described in subclause (I). (ii) Rebate The term rebate means any discount the terms of which are fixed and disclosed in writing to the buyer at the time of the purchase to which the discount applies, but which is not given at the time of purchase. . (2) Effective date The amendments made by this subsection shall take effect on January 1, 2025. (b) Requirements for private insurance plans (1) In general Part D of title XXVII of the Public Health Service Act ( 42 U.S.C. 300gg–111 et seq. ) is amended by adding at the end the following: 2799A–11. Requirements with respect to prescription drug benefits (a) In general A group health plan or a health insurance issuer offering group or individual health insurance coverage shall not, and shall ensure that any entity that provides pharmacy benefits management services on its behalf does not, receive from a drug manufacturer a rebate or other remuneration, including a rebate or other remuneration intended to influence formulary tier placement or its equivalent, with respect to any prescription drug received by an enrollee in the plan or coverage and covered by the plan or coverage. (b) Definitions For purposes of this section— (1) the term entity that provides pharmacy benefits management services means— (A) any person, business, or other entity that provides, directly or through an intermediary, the service of— (i) negotiating terms and conditions with respect to a prescription drug on behalf of a group health plan or group or individual health insurance coverage