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Filename FTC.final_.pdf
Filesize 168 KB
Version 1
Date added April 4, 2022
Downloaded 90 times
Category Health Care, Health Care Policy (Federal), Life Sciences, Public Testimony

Submitted by William Smith, PhD, and Robert Popovian, PharmD, MS, Pioneer Institute

Pioneer has a specific focus on issues around the life sciences, and the practices of pharmacy benefit managers (PBMs) is an area of our research. Given that payments to PBMs from drug manufacturers, such as rebates and fees, probably exceeded $200 billion in 2021, there is little doubt that some PBM business practices are reducing the drug costs of health plans, employers and some consumers. These reduced drug costs can assist in keeping health insurance premiums lower and allow employers to continue offering subsidized healthcare to their employees.