PCMA Statement on Administration’s Step to Reduce Drug Costs in Medicare Part B

PCMA Statement on Administration's Step to Reduce Drug Costs in Medicare Part B

WASHINGTON, Aug. 7, 2018 /PRNewswire/ — The Pharmaceutical Care Management Association issued the following statement on today’s announcement by the Administration to reduce prescription drug costs in Medicare Part B. 

“Today’s announcement by the Administration to include greater use of PBM tools in Medicare Part B through Medicare Advantage Prescription Drug Plans is an important step toward reducing costs for the program and beneficiaries.

Some of the highest priced drugs are found in Medicare Part B, where PBMs currently don’t play any meaningful role.

We look forward to working with the Administration and Congress to continue the Medicare Part D success story, and exploring additional ways to introduce more competition into Medicare Part B.”

PCMA is the national association representing America’s pharmacy benefit managers (PBMs). PBMs administer prescription drug plans for more than 266 million Americans who have health insurance from a variety of sponsors including: commercial health plans, self-insured employer plans, union plans, Medicare Part D plans, the Federal Employees Health Benefits Program (FEHBP), state government employee plans, Medicaid plans, and others.

SOURCE Pharmaceutical Care Management Association

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