Pharmacy benefit managers (PBMs) are middlemen who negotiate with pharmaceutical manufacturers to determine which medicines will be included in health insurance companies’ formularies and how much insurers’ plans will pay the manufacturers for those medicines. They also determine consumers’ cost-sharing requirements for medications. PBMs have historically been loosely regulated, but attention to the prices consumers pay for their medications has led to scrutiny and calls for stricter regulation of the industry.
PBM Reform: Policy Activity
Aimed Alliance Emphasizes the Need for Congressional Action to Reduce the Cost of Health Care in the U.S.
Last year, the Senate Health, Education, Labor & Pensions (HELP) Committee launched a process to draft legislation that would reduce…