; and (2) managing the prescription drug benefits provided by such plan or coverage, including designing and implementing a drug formulary, the processing and payment of claims for prescription drugs, the performance of drug utilization review, the processing of drug prior authorization requests, the adjudication of appeals or grievances related to the prescription drug benefit, contracting with network pharmacies, controlling the cost of covered prescription drugs, or the provision of related services. 5. Clarification of requirement to disclose direct and indirect compensation for brokers and consultants to employer-sponsored health plans (a) In general Section 408(b)(2)(B)(ii)(I)(bb) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1108(b)(2)(B)(ii)(I)(bb)) is amended by adding at the end the following: (CC) Pharmacy benefit management services provided by pharmacy benefit managers or other service providers and related services provided by third-party administrators (or other entities providing such services) for which the covered service provider, an affiliate, or a subcontractor reasonably expects to receive indirect compensation or direct compensation described in item (dd). . (b) Regulations Not later than 18 months after the date of enactment of this Act, the Secretary of Labor shall promulgate regulations, through notice and comment rulemaking, clarifying the requirements of section 408(b)(2)(B) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1108(b)(2)(B) ) with respect to covered service providers providing services described in subitem (CC) of subclause (I)(bb) of such section, as amended by subsection (a). Such regulations shall apply with respect to any plan year that begins on or after the date that is 6 months after such regulations are promulgated. (c) Sense of Congress It is the sense of Congress that the amendment made by subsection (a) clarifies the existing requirement of covered service providers with respect to services described in section