PBMs Don’t Play Fair With All Employers

Nearly 50 percent of the pharmacy benefit managers now are certified by the HR Policy Association as promising to conduct business with full transparency. Well, that’s good for the nation’s biggest employers, but do employers and governments who are not members of the association get the same deal? Not unless they know how to negotiate the same contracts. Some are seeing the light and demanding transparency, some are considering laws requiring transparency, others are waiting for the tooth fairy.

Do you know what your employer and local government are doing? As far as that goes, do you know what transparency in PBM contracts means?

Who are PBMs lying to? Us or Them?

Medco and Caremark, the nation’s top two pharmacy benefit managers, testified at a legislative hearing in Texas considering a bill to require transparency in their contract with the state. Speakers for both PBMs argued vigorously against the bill, claiming it would limit contracting choice for the state and would hamper the PBMs’ ability to earn a profit. Oh, and of course they threatened higher costs for employers.

These are the same two PBMs who, just this summer, proudly issued news releases touting their accreditation by the HR Policy Association. The hallmark of that accreditation is transparency, and the state of Texas’ proposed bill closely follows those mandates.

So who are the PBMs lying to? The state of Texas and other employers, or the HR Policy Association?