PBMs Are Helping Families Keep Costs Low
Pharmacy Benefit Managers (PBMs) work tirelessly on behalf of patients to keep out-of-pocket costs for prescription medications low. To accomplish this, PBMs negotiate with drug manufacturers to lower costs for consumers on life-saving medications. Additionally, PBMs are at the forefront of encouraging pharmacies to dispense cheaper, safer, generic drug alternatives to patients. Not only does this save costs for consumers and plan sponsors, it also increases access to health care more generally by promoting competition.
On average, PBMs save $962 per person every year. These savings are important for consumers and families who are already struggling with the rising costs of health care. In fact, the cost of insulin has increased to an astronomical $54 billion in 2019 from just $22 billion in 2012. Despite these staggering prices, PBMs were able to hold total net sales of insulin to $13 billion in 2012 and 2019.
These efforts help keep families’ budgets intact. It’s why PBMs are #OnYourRxSide. Learn more about how PBMs work 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.