How PBMs are driving up prescription drug costs
When PBMs are overburdened, they can increase costs for patients, not just employers and government programs like Medicare.The country's most popular Medicare drug plan, SilverScript Choice, covered nearly 3 million Medicare beneficiaries last year. Caremark is its PBM and it overcharges.Caremark uses Medicare money to pay pharmacies, including its own, about $2,000 a month for a generic blood cancer drug, imatinib, according to a pricing tool on the SilverScript plan website. Because the payment is so high, the out-of-pocket cost for Medicare patients is also high: $664 in most months.That's more than 10 times the selling price of imatinib – often less than $50 – at online pharmacies when patients forgo insurance and pay with their own money.For patients, the situation amounts t...