A KFF survey found that most employers have little knowledge of what pharmacy benefit managers (PBMs) do with the money they receive for medications used by employees. PBMs claim to save companies money by obtaining rebates from drugmakers that are passed along, while drugmakers argue they raise prices to afford these rebates. The survey showed confusion among employers about the rebates negotiated by PBMs, with many unsure of how much they receive. Critics suggest that PBMs may not be transparent about their rebate practices. Billionaire Mark Cuban started a company to provide transparent pricing policies in response to PBM practices.
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Employers Haven’t a Clue How Their Drug Benefits Are Managed
