May 01, 2023

Business Group on Health, in conjunction with other employer plan sponsor stakeholders, sent a letter to the Senate Health, Educaiton, Labor, and Pensions (HELP) Committee expressing support for bipartisan legislation, the Pharmacy Benefit Manager Reform Act (S. 1339). The legislation aims to lower drug costs by increasing transparency of the pharmacy benefit manager (PBM) industry, by banning so-called “spread pricing” where a PBM charges an employer-sponsored plan (or patient) more than what the PBM actually pays for the drug, and by requiring PBMs pass 100% of rebates and other payments from drug manufacturers on to plans. The Business Group and other signatories encouraged the HELP Committee to pass legislation applying the same fiduciary standards to PBMs as apply to employers.

Business Group Supports Bipartisan PBM Reform Legislation

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Policy & Advocacy Pharmacy/Prescription Drugs