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</li> </ul> </li> <li id="toc-Controversies_and_litigation" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Controversies_and_litigation"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Controversies and litigation</span> </div> </a> <ul id="toc-Controversies_and_litigation-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-PBM_Regulation" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#PBM_Regulation"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>PBM Regulation</span> </div> </a> <button aria-controls="toc-PBM_Regulation-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle PBM Regulation subsection</span> </button> <ul id="toc-PBM_Regulation-sublist" class="vector-toc-list"> <li 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1975</span> </div> </a> <ul id="toc-Knox-Keene_Health_Care_Service_Plan_Act_of_1975-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-National_Regulation" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#National_Regulation"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.3</span> <span>National Regulation</span> </div> </a> <ul id="toc-National_Regulation-sublist" class="vector-toc-list"> <li id="toc-S.127_-_Pharmacy_Benefit_Manager_Transparency_Act_of_2023" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#S.127_-_Pharmacy_Benefit_Manager_Transparency_Act_of_2023"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.3.1</span> <span>S.127 - Pharmacy Benefit Manager Transparency Act of 2023</span> </div> </a> <ul id="toc-S.127_-_Pharmacy_Benefit_Manager_Transparency_Act_of_2023-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> </ul> </li> <li id="toc-See_also" 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administrator</a> of <a href="/wiki/Prescription_drug" title="Prescription drug">prescription drug</a> programs for commercial health plans, self-insured employer plans, <a href="/wiki/Medicare_Part_D" title="Medicare Part D">Medicare Part D plans</a>, the <a href="/wiki/Federal_Employees_Health_Benefits_Program" title="Federal Employees Health Benefits Program">Federal Employees Health Benefits Program</a>, and state government employee plans.<sup id="cite_ref-:0_1-0" class="reference"><a href="#cite_note-:0-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> PBMs operate inside of integrated healthcare systems (e.g., <a href="/wiki/Kaiser_Permanente" title="Kaiser Permanente">Kaiser Permanente</a> or <a href="/wiki/Veterans_Health_Administration" title="Veterans Health Administration">Veterans Health Administration</a>), as part of retail pharmacies (e.g., <a href="/wiki/CVS_Pharmacy" title="CVS Pharmacy">CVS Pharmacy</a>), and as part of insurance companies (e.g., <a href="/wiki/UnitedHealth_Group" title="UnitedHealth Group">UnitedHealth Group</a>).<sup id="cite_ref-:0_1-1" class="reference"><a href="#cite_note-:0-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> </p><p>The role of pharmacy benefit managers includes managing formularies, maintaining a pharmacy network, setting up rebate payments to pharmacies, processing prescription drug claims, providing mail order services, and managing drug use. PBMs play a role as the middlemen between pharmacies, drug manufacturers, wholesalers, and health insurance plan companies.<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </p><p>As of 2023, PBMs managed pharmacy benefits for 275 million Americans and the three largest PBMs in the US, <a href="/wiki/CVS_Caremark" title="CVS Caremark">CVS Caremark</a>, Cigna <a href="/wiki/Express_Scripts" title="Express Scripts">Express Scripts</a>, and <a href="/wiki/UnitedHealth_Group" title="UnitedHealth Group">UnitedHealth Group’s</a> Optum Rx, make up about 80% of the market share covering about 270 million people<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> with a market of almost $600 billion in 2024.<sup id="cite_ref-stat_6-0" class="reference"><a href="#cite_note-stat-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> </p><p>This consolidation and concentration has led to lawsuits and bipartisan criticism for unfair business practices.<sup id="cite_ref-:7_7-0" class="reference"><a href="#cite_note-:7-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> In 2024, <i><a href="/wiki/The_New_York_Times" title="The New York Times">The New York Times</a></i>,<sup id="cite_ref-:1_9-0" class="reference"><a href="#cite_note-:1-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Federal_Trade_Commission" title="Federal Trade Commission">Federal Trade Commission</a>,<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> and many states Attorneys General<sup id="cite_ref-:8_12-0" class="reference"><a href="#cite_note-:8-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-:6_13-0" class="reference"><a href="#cite_note-:6-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> accused pharmacy benefit managers of unfairly raising prices on drugs. </p><p>Additionally, several states have created regulations and policies concerning PBM business practices.<sup id="cite_ref-:02_14-0" class="reference"><a href="#cite_note-:02-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Business_model">Business model</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=1" title="Edit section: Business model"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In the United States, health insurance providers often hire an <a href="/wiki/Third-party_administrator" title="Third-party administrator">outside company</a> to handle price negotiations, insurance claims, and distribution of <a href="/wiki/Prescription_drug" title="Prescription drug">prescription drugs</a>. Providers which use such pharmacy benefit managers include commercial <a href="/wiki/Health_plan" class="mw-redirect" title="Health plan">health plans</a>, self-insured employer plans, <a href="/wiki/Medicare_Part_D" title="Medicare Part D">Medicare Part D plans</a>, the <a href="/wiki/Federal_Employees_Health_Benefits_Program" title="Federal Employees Health Benefits Program">Federal Employees Health Benefits Program</a>, and state government employee plans.<sup id="cite_ref-:0_1-2" class="reference"><a href="#cite_note-:0-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> PBMs are designed to aggregate the <a href="/wiki/Collective_buying_power" title="Collective buying power">collective buying power</a> of enrollees through their client health plans, enabling plan sponsors and individuals to obtain lower prices for their prescription drugs. PBMs negotiate price discounts from retail pharmacies, rebates from pharmaceutical manufacturers, and mail-service pharmacies which home-deliver prescriptions without consulting face-to-face with a pharmacist.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p><p>Pharmacy benefit management companies can make revenue in several ways. First, they collect administrative and service fees from the original insurance plan. They can also collect rebates from the manufacturer. Traditional PBMs do not disclose the negotiated net price of the prescription drugs, allowing them to resell drugs at a public list price (also known as a sticker price) which is higher than the net price they negotiate with the manufacturer.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> This practice is known as "spread pricing".<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> The industry argues that savings are <a href="/wiki/Trade_secret" title="Trade secret">trade secrets</a>.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> Pharmacies and insurance companies are often prohibited by the PBM from discussing costs and reimbursements. This leads to lack of transparency. Therefore, states are often unaware of how much money they lose due to spread pricing, and the extent to which drug rebates are passed on to enrollees of Medicare plans. In response, states like Ohio, West Virginia, and Louisiana have taken action to regulate PBMs within their Medicaid programs. For instance, they have created new contracts that require all discounts and rebates to be reported to the states. In return, Medicaid pays PBMs a flat administrative fee.<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Formulary">Formulary</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=2" title="Edit section: Formulary"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Formulary_(pharmacy)" title="Formulary (pharmacy)">Formulary (pharmacy)</a></div> <p>PBMs advise their clients on ways to "structure drug benefits" and offer complex selections at a variety of price rates from which clients choose. This happens by constructing a "formulary" or list of specific drugs that will be covered by the healthcare plan. The formulary is usually divided into several "tiers" of preference, with low tiers being assigned a higher copay to incentivize consumers to buy drugs on a preferred tier. Drugs which do not appear on the formulary at all mean consumers must pay the full list price. To get drugs listed on the formulary, manufacturers are usually required to pay the PBM a manufacturer's rebate, which lowers the net price of the drug, while keeping the list price the same.<sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> </p><p>The complex pricing structure of the formulary can have unexpected consequences. When filing an insurance claim, patients usually are charged an <a href="/wiki/Copayment" title="Copayment">insurance copayment</a> which is based on the public list price, and not the confidential net price. Around a quarter of the time, the cost of the insurance copayment on the list price is more than the entire price of the drug bought directly in cash. The PBM can then pocket the difference, in a practice known as a "clawback".<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> Consumers can choose to buy the drug in cash, but in their contracts with pharmacies, PBMs would forbid pharmacists from telling consumers about the possibility of buying their medication for a cheaper price without an insurance claim, unless consumers directly ask about it.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> Since 2017, six states have passed legislation making such "gag clauses" illegal.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> This has recently been followed by a federal bans on gag orders<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> for private insurance effective Oct 2018,<sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> and for Medicare effective Jan 2020.<sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Net_effect_on_consumers">Net effect on consumers</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=3" title="Edit section: Net effect on consumers"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/The_New_York_Times" title="The New York Times"><i>The</i> <i>New York Times</i></a>,<sup id="cite_ref-:1_9-1" class="reference"><a href="#cite_note-:1-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Federal_Trade_Commission" title="Federal Trade Commission">Federal Trade Commission</a>,<sup id="cite_ref-:4_27-0" class="reference"><a href="#cite_note-:4-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-:5_28-0" class="reference"><a href="#cite_note-:5-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> and many states' Attorneys General<sup id="cite_ref-:8_12-1" class="reference"><a href="#cite_note-:8-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-:6_13-1" class="reference"><a href="#cite_note-:6-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> argue pharmacy benefit managers unfairly raise prices on drugs. </p><p>A report by House Committee on Oversight and Accountability chairman, Kentucky Rep. <a href="/wiki/James_Comer_(politician)" class="mw-redirect mw-disambig" title="James Comer (politician)">James Comer</a>, found that PBMs use utilization schemes to increase pricing for payers and health plans.<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Effects_on_Independent_Pharmacies">Effects on Independent Pharmacies</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=4" title="Edit section: Effects on Independent Pharmacies"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>PBMs regulate how much community pharmacies are reimbursed by drug companies and health insurance plans for the drugs they sell. PBMs are not required to share how these rebate rates are calculated and this can result in local pharmacies being paid back less or the same as the sticker prices of the drugs themselves.<sup id="cite_ref-:34_30-0" class="reference"><a href="#cite_note-:34-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/Vertical_integration" title="Vertical integration">Vertical integration</a> of PBMs can lead to a preference for PBM-affiliated pharmacies compared to unaffiliated pharmacies. Some PBMs may increase the reimbursement rates for affiliated pharmacies compared to nonaffiliated pharmacies. Because of this, nonaffiliated pharmacies compete with affiliated pharmacies in the dispensing of drugs.<sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> For example, the vertical integration of the three largest PBMs, CVS Caremark, Cigna Express Scripts, and UnitedHealth Group’s Optum Rx, in which each owns their own insurance companies and pharmacies, allows PBMs to divert patients away from nonaffiliated independent pharmacies and toward their affiliated pharmacies.<sup id="cite_ref-:34_30-1" class="reference"><a href="#cite_note-:34-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=5" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 1968, the first PBM was founded when <a href="/wiki/AdvancePCS" title="AdvancePCS">Pharmaceutical Card System Inc.</a> (PCS, later AdvancePCS) invented the plastic benefit card.<sup id="cite_ref-:0_1-3" class="reference"><a href="#cite_note-:0-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> By the "1970s, [they] serve[d] as fiscal intermediaries by adjudicating prescription drug claims by paper and then, in the 1980s, electronically".<sup id="cite_ref-Valparaiso_2007_32-0" class="reference"><a href="#cite_note-Valparaiso_2007-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> </p><p>By the late 1980s, PBMs had become a major force "as health care and prescription costs were escalating".<sup id="cite_ref-cga_gov_2003_33-0" class="reference"><a href="#cite_note-cga_gov_2003-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Diversified_Pharmaceutical_Services" title="Diversified Pharmaceutical Services">Diversified Pharmaceutical Services</a> was one of the earliest examples of a PBM which came from within a national <a href="/wiki/Health_maintenance_organization" title="Health maintenance organization">health maintenance organization</a> <a href="/wiki/United_HealthGroup" class="mw-redirect" title="United HealthGroup">United HealthCare</a> (now United HealthGroup).<sup id="cite_ref-Kongstved_MHC_1995_34-0" class="reference"><a href="#cite_note-Kongstved_MHC_1995-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup> </p><p>In August 2002, the Wall Street Journal wrote that while PBMs had "steered doctors to cheaper drugs, especially <a href="/wiki/Generic_drug" title="Generic drug">low-cost generic</a> copies of branded drugs from big pharmaceutical companies" from 1992 through 2002, they had "quietly moved" into marketing expensive brand name drugs.<sup id="cite_ref-WSJ_2003_35-0" class="reference"><a href="#cite_note-WSJ_2003-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="margin-left:0.1em; white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Please_clarify" title="Wikipedia:Please clarify"><span title="The text near this tag may need clarification or removal of jargon. (August 2024)">clarification needed</span></a></i>]</sup> </p><p>In 2007, when CVS acquired Caremark,<sup id="cite_ref-:0_1-4" class="reference"><a href="#cite_note-:0-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> the function of PBMs changed "from simply processing prescription transactions to managing the pharmacy benefit for health plans",<sup id="cite_ref-Valparaiso_2007_32-1" class="reference"><a href="#cite_note-Valparaiso_2007-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> negotiating "drug discounts with pharmaceutical manufacturers",<sup id="cite_ref-Valparaiso_2007_32-2" class="reference"><a href="#cite_note-Valparaiso_2007-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> and providing "drug utilization reviews and disease management".<sup id="cite_ref-Valparaiso_2007_32-3" class="reference"><a href="#cite_note-Valparaiso_2007-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> PBMs also created a formulary to encourage or even require "health plan participants to use preferred formulary products to treat their conditions".<sup id="cite_ref-Valparaiso_2007_32-4" class="reference"><a href="#cite_note-Valparaiso_2007-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> In 2012, Express Scripts and CVS Caremark transitioned from using tiered formularies, to those that excluded drugs from their formulary.<sup id="cite_ref-:0_1-5" class="reference"><a href="#cite_note-:0-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Market_and_competition">Market and competition</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=6" title="Edit section: Market and competition"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>As of 2013, in the United States, a majority of the large managed prescription drug benefit expenditures were conducted by about 60 PBMs.<sup id="cite_ref-Shepherd_2013_36-0" class="reference"><a href="#cite_note-Shepherd_2013-36"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup> Few PBMs are independently owned and operated. PBMs operate inside of integrated healthcare systems (e.g., <a href="/wiki/Kaiser_Permanente" title="Kaiser Permanente">Kaiser Permanente</a> or <a href="/wiki/Veterans_Health_Administration" title="Veterans Health Administration">Veterans Health Administration</a>), as part of retail pharmacies, major chain drug stores (e.g., <a href="/wiki/CVS_Pharmacy" title="CVS Pharmacy">CVS Pharmacy</a> or <a href="/wiki/Rite_Aid" title="Rite Aid">Rite-Aid</a>), and as subsidiaries of managed care plans or insurance companies (e.g., <a href="/wiki/UnitedHealth_Group" title="UnitedHealth Group">UnitedHealth Group</a>).<sup id="cite_ref-:0_1-6" class="reference"><a href="#cite_note-:0-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-:2_37-0" class="reference"><a href="#cite_note-:2-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup> </p><p>As of 2015, the three largest public PBMs were <a href="/wiki/Express_Scripts" title="Express Scripts">Express Scripts</a> by CIGNA, <a href="/wiki/CVS_Health" title="CVS Health">CVS Health</a> (formerly CVS Caremark, by CVS Aetna) and OptumRx/Catamaran by <a href="/wiki/UnitedHealth_Group" title="UnitedHealth Group">United Health</a>.<sup id="cite_ref-38" class="reference"><a href="#cite_note-38"><span class="cite-bracket">[</span>38<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-39" class="reference"><a href="#cite_note-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-40" class="reference"><a href="#cite_note-40"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup> </p><p>As of 2022, Caremark Rx, Express Scripts, OptumRx, Humana, Prime Therapeutics, and MedImpact Healthcare Systems were the six largest public PBMs that control 95% of the market, while the top three controlled 80% of the market.<sup id="cite_ref-41" class="reference"><a href="#cite_note-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> As of 2024, the top 3 controlled a market of almost $600 billion.<sup id="cite_ref-stat_6-1" class="reference"><a href="#cite_note-stat-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Express_Scripts">Express Scripts</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=7" title="Edit section: Express Scripts"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 2012 Express Scripts acquired rival <a href="/wiki/Medco_Health_Solutions" title="Medco Health Solutions">Medco Health Solutions</a> for $29.1 billion and became "a powerhouse in managing prescription drug benefits".<sup id="cite_ref-Reuters_2011_07_22_42-0" class="reference"><a href="#cite_note-Reuters_2011_07_22-42"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup> As of 2015, Express Scripts Holding Company was the largest pharmacy benefit management organization in the United States.<sup id="cite_ref-reuters2015_10_31_43-0" class="reference"><a href="#cite_note-reuters2015_10_31-43"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup> </p><p>In October 2015 Express Scripts began reviewing pharmacy programs run by <a href="/wiki/AbbVie" title="AbbVie">AbbVie Inc</a> and <a href="/wiki/Teva_Pharmaceutical_Industries" class="mw-redirect" title="Teva Pharmaceutical Industries">Teva Pharmaceuticals Industries Ltd</a> regarding the potential use of tactics that "can allow drugmakers to work around reimbursement restrictions" from Express Scripts and other insurers. These reviews resulted from investigations into "questionable practices" at <a href="/wiki/Valeant_Pharmaceuticals" class="mw-redirect" title="Valeant Pharmaceuticals">Valeant Pharmaceuticals International Inc</a>'s partner pharmacy, <a href="/wiki/Philidor_Rx_Services" title="Philidor Rx Services">Philidor Rx Services</a>.<sup id="cite_ref-reuters2015_10_31_43-1" class="reference"><a href="#cite_note-reuters2015_10_31-43"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="CVS_Health">CVS Health</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=8" title="Edit section: CVS Health"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:CVS_Caremark_logo.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fe/CVS_Caremark_logo.svg/220px-CVS_Caremark_logo.svg.png" decoding="async" width="220" height="89" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fe/CVS_Caremark_logo.svg/330px-CVS_Caremark_logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fe/CVS_Caremark_logo.svg/440px-CVS_Caremark_logo.svg.png 2x" data-file-width="1024" data-file-height="414" /></a><figcaption>The logo for CVS Caremark, one of the three largest PBM companies in the US.</figcaption></figure> <p>In 2011 <a href="/wiki/Caremark_Rx" class="mw-redirect" title="Caremark Rx">Caremark Rx</a> was the nation's second-largest PBM. Caremark Rx was subject to a class action lawsuit in Tennessee, which alleged that Caremark kept discounts from drug manufacturers instead of sharing them with member benefit plans, secretly negotiated rebates for drugs and kept the money, and provided plan members with more expensive drugs when less expensive alternatives were available. CVS Caremark paid $20 million to three states over fraud allegations.<sup id="cite_ref-latimesblogs_2011_44-0" class="reference"><a href="#cite_note-latimesblogs_2011-44"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="UnitedHealth_Group">UnitedHealth Group</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=9" title="Edit section: UnitedHealth Group"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In March 2015 UnitedHealth Group acquired <a href="/wiki/Catamaran_Corporation" title="Catamaran Corporation">Catamaran Corporation</a> for about $12.8 billion to extend grow its PBM business.<sup id="cite_ref-WSJ_2015_Mar_30_45-0" class="reference"><a href="#cite_note-WSJ_2015_Mar_30-45"><span class="cite-bracket">[</span>45<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Controversies_and_litigation">Controversies and litigation</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=10" title="Edit section: Controversies and litigation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>PBMs have recently been subject to scrutiny mainly due to their lack of transparency regarding their complex drug pricing strategies and multiple facets of their business practices that contribute to rising drug pricing.<sup id="cite_ref-:22_46-0" class="reference"><a href="#cite_note-:22-46"><span class="cite-bracket">[</span>46<span class="cite-bracket">]</span></a></sup> </p><p>In 1998, PBMs were under investigation by <a href="/wiki/Assistant_U.S._Attorney" class="mw-redirect" title="Assistant U.S. Attorney">Assistant U.S. Attorney</a> James Sheehan of the federal Justice Department, and their effectiveness in reducing prescription costs and saving clients money was questioned.<sup id="cite_ref-cga_gov_2003_33-1" class="reference"><a href="#cite_note-cga_gov_2003-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template noprint Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:No_original_research#Primary,_secondary_and_tertiary_sources" title="Wikipedia:No original research"><span title="This claim needs references to reliable secondary sources. (August 2024)">non-primary source needed</span></a></i>]</sup> </p><p>In 2004, litigation added to the uncertainty about PBM practices.<sup id="cite_ref-latimesblogs_2011_44-1" class="reference"><a href="#cite_note-latimesblogs_2011-44"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Reasonable_Rx_2008_47-0" class="reference"><a href="#cite_note-Reasonable_Rx_2008-47"><span class="cite-bracket">[</span>47<span class="cite-bracket">]</span></a></sup> In 2015, there were seven lawsuits against PBMs involving fraud, deception, or antitrust claims.<sup id="cite_ref-:0_1-7" class="reference"><a href="#cite_note-:0-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-:3_48-0" class="reference"><a href="#cite_note-:3-48"><span class="cite-bracket">[</span>48<span class="cite-bracket">]</span></a></sup> </p><p>State legislatures have been using "transparency," "fiduciary," and "disclosure" provisions to improve the business practices of PBMs.<sup id="cite_ref-Reasonable_Rx_2008_47-1" class="reference"><a href="#cite_note-Reasonable_Rx_2008-47"><span class="cite-bracket">[</span>47<span class="cite-bracket">]</span></a></sup> </p><p>A 2013 <a href="/wiki/Centers_for_Medicare_%26_Medicaid_Services" title="Centers for Medicare & Medicaid Services">Centers for Medicare & Medicaid Services</a> study found negotiated prices at mail order pharmacy to be up to 83% higher than the negotiated prices at community pharmacies.<sup id="cite_ref-49" class="reference"><a href="#cite_note-49"><span class="cite-bracket">[</span>49<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template noprint Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:No_original_research#Primary,_secondary_and_tertiary_sources" title="Wikipedia:No original research"><span title="This claim needs references to reliable secondary sources. (August 2024)">non-primary source needed</span></a></i>]</sup> </p><p>A 2014 <a href="/wiki/ERISA" class="mw-redirect" title="ERISA">ERISA</a> (Employee Retirement Income Security Act of 1974) hearing noted that <a href="/wiki/Vertically_integrated" class="mw-redirect" title="Vertically integrated">vertically integrated</a> PBMs may pose conflicts of interest and that PBMs' health plan sponsors "face considerable obstacles in...determin[ing] compliance with PBM contracts including direct and indirect PBM compensation contract terms".<sup id="cite_ref-50" class="reference"><a href="#cite_note-50"><span class="cite-bracket">[</span>50<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template noprint Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:No_original_research#Primary,_secondary_and_tertiary_sources" title="Wikipedia:No original research"><span title="This claim needs references to reliable secondary sources. (August 2024)">non-primary source needed</span></a></i>]</sup> </p><p>In 2017, the <i><a href="/wiki/Los_Angeles_Times" title="Los Angeles Times">Los Angeles Times</a></i> wrote that PBMs cause an inflation in drug costs, especially within the area of diabetes drugs.<sup id="cite_ref-51" class="reference"><a href="#cite_note-51"><span class="cite-bracket">[</span>51<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/United_States_Secretary_of_Health_and_Human_Services" title="United States Secretary of Health and Human Services">United States Secretary of Health and Human Services</a> <a href="/wiki/Alex_Azar" title="Alex Azar">Alex Azar</a> stated regarding PBMs, "Everybody wins when list prices rise, except for the patient. It’s rather a startling and perverse system that has evolved over time."<sup id="cite_ref-52" class="reference"><a href="#cite_note-52"><span class="cite-bracket">[</span>52<span class="cite-bracket">]</span></a></sup> </p><p>On January 31, 2019, Health and Human Services released a proposed rule to remove the Anti-kickback Statute, safe harbor protections for PBMs and other plan sponsors, that previously allowed PBMs to seek rebates from drug manufacturers.<sup id="cite_ref-53" class="reference"><a href="#cite_note-53"><span class="cite-bracket">[</span>53<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Manual_of_Style/Dates_and_numbers#Chronological_items" title="Wikipedia:Manual of Style/Dates and numbers"><span title="The date of the event predicted near this tag has passed. (August 2024)">needs update</span></a></i>]</sup><sup class="noprint Inline-Template noprint Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:No_original_research#Primary,_secondary_and_tertiary_sources" title="Wikipedia:No original research"><span title="This claim needs references to reliable secondary sources. (August 2024)">non-primary source needed</span></a></i>]</sup> </p><p><a href="/wiki/Ron_Wyden" title="Ron Wyden">Ron Wyden</a> stated in April 2019 that they were as “clear a middleman rip-off as you are going to find”, because they make more money when they pick a higher-priced drug over a lower-priced drug.<sup id="cite_ref-54" class="reference"><a href="#cite_note-54"><span class="cite-bracket">[</span>54<span class="cite-bracket">]</span></a></sup> </p><p>In June 2024, the <i>New York Times</i> released its first article in a series critiquing pharmacy benefit managers for artificially raising drug prices.<sup id="cite_ref-:1_9-2" class="reference"><a href="#cite_note-:1-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p><p>In July 2024, the <a href="/wiki/Federal_Trade_Commission" title="Federal Trade Commission">Federal Trade Commission</a> released an interim report on its 2-year investigation into pharmacy benefit managers, many of which it accuses of raising drug prices due to <a href="/wiki/Conflict_of_interest" title="Conflict of interest">conflicts of interest</a>, consolidation, and other factors.<sup id="cite_ref-:4_27-1" class="reference"><a href="#cite_note-:4-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-:5_28-1" class="reference"><a href="#cite_note-:5-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> It looks likely to sue as soon as August 2024.<sup id="cite_ref-:6_13-2" class="reference"><a href="#cite_note-:6-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> As of July 2024, states that have already filed suits against PBMs include <a href="/wiki/Vermont" title="Vermont">Vermont</a>, <a href="/wiki/California" title="California">California</a>, <a href="/wiki/Kentucky" title="Kentucky">Kentucky</a>, <a href="/wiki/Ohio" title="Ohio">Ohio</a>, and <a href="/wiki/Hawaii" title="Hawaii">Hawaii</a>.<sup id="cite_ref-:7_7-1" class="reference"><a href="#cite_note-:7-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p><p>Bill Head, assistant vice president at the <a href="/wiki/Pharmaceutical_Care_Management_Association" title="Pharmaceutical Care Management Association">Pharmaceutical Care Management Association (PCMA)</a>, claims that “[Pharmacy benefits managers] are the <i>only</i> entity in the drug-supply chain that exert downward pressure on drug prices by negotiating rebates and discounts with manufacturers".<sup id="cite_ref-:34_30-2" class="reference"><a href="#cite_note-:34-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> </p><p>Since September 2024, brand name drugs <a href="/wiki/Semaglutide" title="Semaglutide">Ozempic</a> and Wegovy, two common weight loss and anti-diabetic drugs, have been experiencing increased list prices.<sup id="cite_ref-:9_55-0" class="reference"><a href="#cite_note-:9-55"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-:10_56-0" class="reference"><a href="#cite_note-:10-56"><span class="cite-bracket">[</span>56<span class="cite-bracket">]</span></a></sup> On a Tuesday in late September, a Senate hearing was held where Lars Fruergaard Jørgensen, the CEO of <a href="/wiki/Novo_Nordisk" title="Novo Nordisk">Novo Nordisk</a>, the Danish pharmaceutical company that owns these two drugs, expressed his concerns to several congressional leaders, including Vermont Senator Bernie Sanders, stating that PBMs are the reason for Novo Nordisk not being able to lower the list prices since PBMs may take the drug off their list if the prices become too low decreasing access to the drug for everyone. However, this was not the case as written commitments by all three major PBMs (Caremark, Express Scripts, and Optum Rx) promised not to withdraw coverage should Novo Nordisk decide to reduce their prices.<sup id="cite_ref-:9_55-1" class="reference"><a href="#cite_note-:9-55"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-:10_56-1" class="reference"><a href="#cite_note-:10-56"><span class="cite-bracket">[</span>56<span class="cite-bracket">]</span></a></sup> Following the hearing the Senate Health, Education, Labor, and Pensions Committee submitted a report on the drug pricing strategies of Novo Nordisk, from which it can be concluded that PBMs were not the cause of high prices of these drugs.<sup id="cite_ref-:9_55-2" class="reference"><a href="#cite_note-:9-55"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="PBM_Regulation">PBM Regulation</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=11" title="Edit section: PBM Regulation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>  More recently, federal lawmakers have become more critical of the business practices in the PBM industry.<sup id="cite_ref-:02_14-1" class="reference"><a href="#cite_note-:02-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> For example, gag clauses between PBMs and pharmacies regarding pricing plans were banned on a nationwide scale following the enactment of both the Patient Right to Know Drug Prices Act and the Know the Lowest Price Act in 2018.<sup id="cite_ref-:02_14-2" class="reference"><a href="#cite_note-:02-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-57" class="reference"><a href="#cite_note-57"><span class="cite-bracket">[</span>57<span class="cite-bracket">]</span></a></sup> </p><p>Much of the controversy surrounding PBM practices has to do with how PBMs are incentivized by profits to raise drug costs. Due to this, regulators are mainly concerned with managing drug costs and pharmacy reimbursement rates.<sup id="cite_ref-:02_14-3" class="reference"><a href="#cite_note-:02-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="State_Level_Regulation">State Level Regulation</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=12" title="Edit section: State Level Regulation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Many states have their own way of regulating PBM activities. These relate to different areas of PBM practice from managing reimbursement rates to increasing transparency about PBM business practices. In a 2022 web search conducted by Mattingly et al. it was found that "A total of 45 states implemented policies on pharmacy operations, 41 states on pricing and <a href="/wiki/Reimbursement" title="Reimbursement">reimbursement</a>, 36 states on licensure and registration, 26 on reporting requirements, and 25 on <a href="/wiki/Preferred_pharmacy_network" title="Preferred pharmacy network">pharmacy networks</a>".<sup id="cite_ref-:02_14-4" class="reference"><a href="#cite_note-:02-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p><p>These are some ways in which states regulate drug pricing and pharmacy reimbursement funds: maximum allowable cost (MAC) lists, timely payment for pharmacy services, prevention of spread pricing, adjudication fee limit, and calculations for drug price reimbursement. As of 2022, more research was to be conducted on how these regulations will affect patient outcomes.<sup id="cite_ref-:02_14-5" class="reference"><a href="#cite_note-:02-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Regulation_in_California">Regulation in California</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=13" title="Edit section: Regulation in California"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading4"><h4 id="Knox-Keene_Health_Care_Service_Plan_Act_of_1975">Knox-Keene Health Care Service Plan Act of 1975</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=14" title="Edit section: Knox-Keene Health Care Service Plan Act of 1975"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The Knox-Keene Health Care Service Plan Act of 1975 is a set of Californian laws that regulate Healthcare Service Plans. Under these laws, pharmacy benefit managers with contracts to Health care service plans are required by law to be registered with the <a href="/wiki/Department_of_Managed_Health_Care" class="mw-redirect" title="Department of Managed Health Care">Department of Managed Health Care</a> to disclose information.<sup id="cite_ref-:12_58-0" class="reference"><a href="#cite_note-:12-58"><span class="cite-bracket">[</span>58<span class="cite-bracket">]</span></a></sup> </p><p><b>SB 966: Pharmacy benefits</b> </p><p>SB 966: Pharmacy benefits is a California state bill written by state senators <a href="/wiki/Aisha_Wahab" title="Aisha Wahab">Aisha Wahab</a> and <a href="/wiki/Scott_Wiener" title="Scott Wiener">Scott Weiner</a>. It is currently in the process of becoming law. Adding on to the Knox Knee Act, SB 966 requires all PBMs to acquire licensure under the <a href="/wiki/California_Department_of_Insurance" title="California Department of Insurance">California Department of Insurance</a> and file annual business reports disclosing information about revenue and purchaser-specific benefits.<sup id="cite_ref-:12_58-1" class="reference"><a href="#cite_note-:12-58"><span class="cite-bracket">[</span>58<span class="cite-bracket">]</span></a></sup> SB 966 also prohibits pharmacy benefit managers from discriminating against nonaffiliated pharmacies and requiring customers to purchase from affiliated pharmacies.<sup id="cite_ref-:34_30-3" class="reference"><a href="#cite_note-:34-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> </p><p>According to Assemblymember Devon Mathis, co-author of the bill, this would effectively reduce drug prices for consumers.<sup id="cite_ref-:42_59-0" class="reference"><a href="#cite_note-:42-59"><span class="cite-bracket">[</span>59<span class="cite-bracket">]</span></a></sup> Additionally, the National Community Pharmacists Association reported that health insurance premiums increased by a nationwide average of 16.66% between 2015 and 2019. In states with licensing regulations, the increase in premiums was 0.3% lower than the national average, while in states without these regulations, it was 0.4% above the average.<sup id="cite_ref-:42_59-1" class="reference"><a href="#cite_note-:42-59"><span class="cite-bracket">[</span>59<span class="cite-bracket">]</span></a></sup> </p><p>However, PBMs argue that enforcing this regulation will only drive up drug costs and increase coverage premiums for all parties.<sup id="cite_ref-:42_59-2" class="reference"><a href="#cite_note-:42-59"><span class="cite-bracket">[</span>59<span class="cite-bracket">]</span></a></sup> The Pharmaceutical Care Management Association believes that this bill only favors community pharmacies over chain pharmacies and that all it will do is make it harder for PBMs to effectively negotiate lower drug prices with manufacturing companies.<sup id="cite_ref-:42_59-3" class="reference"><a href="#cite_note-:42-59"><span class="cite-bracket">[</span>59<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="National_Regulation">National Regulation</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=15" title="Edit section: National Regulation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading4"><h4 id="S.127_-_Pharmacy_Benefit_Manager_Transparency_Act_of_2023">S.127 - Pharmacy Benefit Manager Transparency Act of 2023</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=16" title="Edit section: S.127 - Pharmacy Benefit Manager Transparency Act of 2023"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The Pharmacy Benefit Manager Transparency Act of 2023, Introduced on January 26, 2023, states that pharmacy benefit managers cannot unfairly lower rebate payments to pharmacies, claw back reimbursement payments, or charge arbitrary fees. If PBMs pass all discounts to the health plan and provide them with pricing information about their services, they will be exempt from these prohibitions. Under this act, PBMs would also need to disclose information about payments from health plans to the <a href="/wiki/Federal_Trade_Commission" title="Federal Trade Commission">Federal Trade Commission (FTC)</a> through annual reports.<sup id="cite_ref-60" class="reference"><a href="#cite_note-60"><span class="cite-bracket">[</span>60<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=17" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Cost_Plus_Drugs" title="Cost Plus Drugs">Cost Plus Drugs</a></li> <li><a href="/wiki/Online_pharmacy" title="Online pharmacy">Online pharmacy</a></li> <li><a href="/wiki/Pharmaceutical_Care_Management_Association" title="Pharmaceutical Care Management Association">Pharmaceutical Care Management Association</a></li> <li><a href="/wiki/Preferred_pharmacy_network" title="Preferred pharmacy network">Preferred pharmacy network</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=18" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-columns references-column-width" style="column-width: 30em;"> <ol class="references"> <li id="cite_note-:0-1"><span class="mw-cite-backlink">^ <a href="#cite_ref-:0_1-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:0_1-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-:0_1-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-:0_1-3"><sup><i><b>d</b></i></sup></a> <a href="#cite_ref-:0_1-4"><sup><i><b>e</b></i></sup></a> <a href="#cite_ref-:0_1-5"><sup><i><b>f</b></i></sup></a> <a href="#cite_ref-:0_1-6"><sup><i><b>g</b></i></sup></a> <a href="#cite_ref-:0_1-7"><sup><i><b>h</b></i></sup></a></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output 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Retrieved <span class="nowrap">October 28,</span> 2024</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=digitaldemocracy.calmatters.org&rft.atitle=SB+966%3A+Pharmacy+benefits.&rft_id=https%3A%2F%2Fdigitaldemocracy.calmatters.org%2Fbills%2Fca_202320240sb966&rfr_id=info%3Asid%2Fen.wikipedia.org%3APharmacy+benefit+management" class="Z3988"></span></span> </li> <li id="cite_note-:42-59"><span class="mw-cite-backlink">^ <a href="#cite_ref-:42_59-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:42_59-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-:42_59-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-:42_59-3"><sup><i><b>d</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFThomson2024" class="citation web cs1">Thomson, Don (September 16, 2024). <a rel="nofollow" class="external text" href="https://www.latimes.com/business/story/2024-09-16/california-may-regulate-and-restrict-pharmaceutical-brokers">"California may regulate and restrict pharmaceutical brokers"</a>. <i>Los Angeles Times</i><span class="reference-accessdate">. Retrieved <span class="nowrap">November 17,</span> 2024</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Los+Angeles+Times&rft.atitle=California+may+regulate+and+restrict+pharmaceutical+brokers&rft.date=2024-09-16&rft.aulast=Thomson&rft.aufirst=Don&rft_id=https%3A%2F%2Fwww.latimes.com%2Fbusiness%2Fstory%2F2024-09-16%2Fcalifornia-may-regulate-and-restrict-pharmaceutical-brokers&rfr_id=info%3Asid%2Fen.wikipedia.org%3APharmacy+benefit+management" class="Z3988"></span></span> </li> <li id="cite_note-60"><span class="mw-cite-backlink"><b><a href="#cite_ref-60">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.congress.gov/bill/118th-congress/senate-bill/127">"Congress.gov"</a>. <i>congress.gov</i>. 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Retrieved <span class="nowrap">October 30,</span> 2024</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=congress.gov&rft.atitle=Congress.gov&rft.date=2023-12-13&rft_id=https%3A%2F%2Fwww.congress.gov%2Fbill%2F118th-congress%2Fsenate-bill%2F127&rfr_id=info%3Asid%2Fen.wikipedia.org%3APharmacy+benefit+management" class="Z3988"></span></span> </li> </ol></div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Pharmacy_benefit_management&action=edit&section=19" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a rel="nofollow" class="external text" href="https://www.wbur.org/onpoint/2023/12/14/pharmacy-benefit-managers-the-middleman-that-decides-what-you-pay-for-medications">Pharmacy benefit managers: The middlemen who decide what you pay for medications</a> <a href="/wiki/WBUR-FM" title="WBUR-FM">WBUR</a> <i><a href="/wiki/On_Point" title="On Point">On Point</a></i>, December 14, 2023</li> <li><a rel="nofollow" class="external text" href="https://www.rxresource.org/pbm/default.html">PBM Directory</a> RxResource.org</li></ul> <div class="navbox-styles"><style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline ol,.mw-parser-output .hlist.inline ul,.mw-parser-output .hlist dl dl,.mw-parser-output .hlist dl ol,.mw-parser-output .hlist dl ul,.mw-parser-output .hlist ol dl,.mw-parser-output .hlist ol ol,.mw-parser-output .hlist ol ul,.mw-parser-output .hlist ul dl,.mw-parser-output .hlist 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