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Senate bill proposes to rein in PBMs by forcing them to sell pharmacy businesses
Healthcare Finance News December 12, 2024
The bipartisan legislation would prevent dual ownership of PBMs and pharmacy assets.
A proposed bipartisan, bicameral bill introduced in the Senate would prohibit an insurer or a parent company of a pharmacy benefit manager from owning a pharmacy business.
If passed, big insurers such as CVS Health, which owns Aetna; Cigna; and UnitedHealth Group would be forced to divest of any pharmacy assets.
CVS Health owns the PBM CVS Caremark and also the CVS Pharmacy business.
Having the same ownership of a PBM, which pays for pharmacy services, and a pharmacy chain is an inherent conflict of interest, according to a statement from the office of Sen. Elizabeth Warren, D-Mass., one of four lawmakers who introduced the bill on Wednesday.
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