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PBM Accountability Project Statement on Centers for Medicare & Medicaid Services Letter Warning Seniors About PBM Practices

The Centers for Medicare & Medicaid Services recently issued a letter to pharmacy benefit managers (PBMs), Medicare Part D Plans, Medicaid Managed Care Plans and private health insurance plans expressing concern about “certain practices by some plans and pharmacy benefit managers (PBMs) that threaten the sustainability of many pharmacies, impede patient access to care, and put increased burden on health care providers.”


Mark Blum, managing director of the PBM Accountability Project, issued the following statement:


“CMS is now adding its voice to the growing number of stakeholders and legislative bodies sounding the alarm on harmful PBM business practices. The CVS warning letter draws attention to a complex set of lucrative, anti-competitive drug price arbitrage schemes that are conducted by a few PBM oligopolists, including the three multi-billion-corporations that control more than 80% of the prescription drug market, at taxpayer and patient expense.


“Voices throughout the country are aligned in bipartisan support for enacting effective policies to ensure plan sponsors and patients are protected from financial exploitation by PBMs and can access needed medications. Now is the time for Congress to act and to deliver savings for all Americans as we enter the winter season and more Americans rely on prescription medications to relieve seasonal illnesses and manage their chronic conditions.”




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