Pharmacy Benefit Managers (PBMs) are intermediaries that negotiate and manage prescription drug benefits on behalf of health insurance companies, self-insured employers, and government programs. Currently, three PBMs control nearly 80% of the prescription drug market and operate with little oversight by federal regulators and out of the view of consumers. PBMs influence prescription drug costs, determine which drugs are covered by an insurance plan, and pocket unknown sums of money that might otherwise be passed along as savings to consumers. This lack of transparency makes it difficult for the public and regulators to fully understand how the prescription drug market drives up costs for consumers.
PBM’s must be held accountable for increasing the cost of healthcare in the U.S.
Tell Congress to Pass the Pharmacy Benefit Managers Transparency Act of 2022. Protect us from high prescription drug prices and deceptive practices.
Read the one-pager here: https://wvcag.org/blog/wp-content/uploads/2022/09/PBM-Transparency-Act-One-Pager-FINAL.pdf