
The New York Times has been investigating the opaque practices of Pharmacy Benefit Managers (PBMs), highlighting their significant impact on drug pricing in the United States. PBMs, which include major players like CVS Caremark, Express Scripts, and OptumRx, have been criticized for inflating prescription drug prices, delaying or preventing patients from accessing medications, and pushing patients to use their own pharmacies. In some cases, patients suffer serious health consequences due to these practices. The modern PBM model emerged in 2018 when health insurers like Aetna and Cigna merged with PBMs to meet Wall Street's growth demands. Instances of overcharging have been documented, such as CVS charging Oklahoma $138,000 annually for a drug that could be procured for $14,000 through online wholesalers like the one created by Mark Cuban. Additionally, patients have faced issues such as being forced to pay for more expensive brand-name drugs like Symbicort instead of generics. The issue has gained political traction, but meaningful reform is unlikely without addressing the financial interests of unions and large health plan sponsors who benefit from rebates.
If you’ve ever had trouble getting a prescription drug, chances are you’ve run into a pharmacy benefit manager. Here’s what to know about your PBM and how to find out if you are being overcharged. https://t.co/yBVZc1tEKy
"Mr. McKinley’s situation wasn’t a fluke. The Times also found several instances of CVS charging Oklahoma thousands of dollars more for generic multiple sclerosis drugs than what those same drugs would cost at online pharmacies like the one created by the billionaire Mark… https://t.co/IHlNvJs2QP
"Mr. McKinley’s insurance paperwork showed that CVS was charging Oklahoma $138,000 a year for Mr. McKinley’s everolimus. But theonline portal that Mr. Hobbs used to buy drugs from wholesalers indicated that he could procure everolimus for about $14,000." https://t.co/aQQUfStSlr
