PBMs: Protecting Consumers, Employers From High Drug Prices

As policymakers consider new ways to reduce prescription drug costs, they should start by rejecting schemes to undercut the cost-savings tools widely used by employers, unions, health plans, and popular, affordable programs like Medicare Part D. Specifically, lawmakers must protect the ability of the employers and unions that provide coverage – and the pharmacy benefits managers (PBMs) they hire – to negotiate aggressive discounts from competing drug companies. This first means rejecting drug manufacturers' spin to deflect responsibility for their pricing strategies.