Straight Talk from Steve: PBMs

One of the issues which has concerned me ever since I sat on the Legislature’s HHS Committee is what to do about price benefit managers, otherwise known as PBMs. Price benefit managers are the middlemen who provide our pharmacies with prescription drugs. PBMs negotiate with drug manufacturers on behalf of government health plans, private health plans, and employer-based health insurance plans. The deals they strike with pharmaceutical companies determine the availability of drugs as well as the prices paid for drugs by 266 million Americans.

The problem with PBMs relates to their regulations o...