Being #OnYourRxSide Means Fighting for Lowering Prescription Drug Costs
Insurance plan sponsors – employers, self-insured plans, and others – for decades have relied on PBMs to manage prescription drug costs in a way that provides affordable access for the patient populations that they represent. PBMs have delivered on that need by achieving an overall low-cost trend by encouraging competition among drug manufacturers and drugstores.
In fact, recent research shows that PBMs will provide savings of more than $512 billion over the next decade for employer- and union-sponsored health plans and their workers and dependents. For 2020, it is estimated that an average per-person PBM savings on prescription drugs is $962.
Now, and in the future, reducing prescription drug costs will affect the overall economy and have implications beyond health care. Every dollar spent on health benefits is a dollar employers can’t spend to create new jobs, increase wages, or invest in innovation.
PBMs are working to provide 266 million patients peace of mind through our continued services and tools. For more information, please click here.
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Pharmacy benefit managers (PBMs) are your advocates in the health care system, working to lower out-of-control prescription drug costs for patients across the country.