OP / ED
Concerns about high drug prices can take a significant toll on Americans every day. A new West Health-Gallup study recently found that a mere 55% of Americans believe they can afford their healthcare and prescription drugs, down six points in just one year. Thankfully, Congress has a rare bi-partisan opportunity in this upcoming lame duck session to address one of the primary drivers of this crisis: pharmacy benefit managers, or PBMs.
These powerful middlemen control prescription drug access for millions of Americans, and their business model is nefarious — but currently legal. PBMs, which represent for-profit insurance companies, extract (or dictate) substantial rebates and discounts off the nominal “list” price of medicines and also decide which medicines should be covered on different insurance plans.
