Pharmacy Benefit Managers (PBMs) and Healthcare Reform
President-elect Donald Trump vows to take on Pharmacy Benefit Managers (PBMs) to reduce drug costs by eliminating the middleman. Trump introduced a policy in 2020 to allow seniors to benefit from rebates paid to PBMs by drug manufacturers. Joe Biden repealed this rule, but Trump and his healthcare team aim to bring it back for massive savings for seniors.
Key Points
- PBMs control 80% of the PBM market and influence drug prices
- Trump introduced a policy in 2020 to allow seniors to benefit from drug rebates paid to PBMs
- Joe Biden repealed the Trump drug rebate rule, affecting seniors' savings
Pros
- Reducing drug costs for Americans
- Directly benefiting seniors from drug rebates
- Potential for significant savings
Cons
- Repeal of Trump drug rebate rule by Joe Biden
- Incentivization of PBMs to push expensive medicines
- Lack of patient and doctor control over drug choices