PBMs Face More Restrictions under New Senate Bill

Congressional pressure on pharmacy benefit managers continued to mount Wednesday as the Senate Finance Committee approved another bipartisan measure to curb the industry’s business practices. The panel voted 26 to 0 to refer the Better Mental Health Care, Lower-Cost Drugs, and Extenders Act of 2023 to the full Senate, with Sen. Ron Johnson (R-Wis.) declining to cast a vote. In addition to a slew of Medicare and Medicaid payment policies, the bill seeks to reduce prescription drug costs by imposing new rules on PBMs and health insurance companies.

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Source: https://www.modernhealthcare.com/politics-policy/pharmacy-benefit-manager-pbm-pharmacies-senate-finance-bill

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