What are PBMs?
Insurance company middlemen, PBMs, have been shaking down patients and small community pharmacies. While they were initially created to help manage prescription drug costs and benefits overall. In reality, PBMs are diverting potential prescription drug savings into the highest rates of profit in the prescription drug supply chain. Three major PBM companies make up 80% of the market. These PBMs have become so profitable over time they are among the Fortune 25 companies – ranked higher than the drug manufacturers whose prices they had promised to control.
It’s no coincidence that out-of-pocket drug costs are rising while PBM profits are increasing.
What is Being Done?
Congress is acting in a bipartisan way to take on these PBMs and deliver lower costs for patients. Recently introduced, the Delinking Revenue from Unfair Gouging (DRUG) Act could lower drug costs and prevent massive Pharmacy Benefit Managers (PBMs) from price-gouging consumers. The bill would prohibit PBMs from making more money on high-cost drugs than they do from lower-cost drugs to even the playing field for patients.
What Can I Do?
Contact your Senator and ask them to support legislation that holds PBMs accountable.
Contact Senator Jon Tester: (202) 224-2644
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