The Senate Finance Committee on Wednesday advanced a package of bills that sets out to lower drug costs for Medicare and Medicaid beneficiaries, including reforms to the entities that negotiate drug prices on behalf of insurance plans — pharmacy benefit managers.
In a 20-0 vote, the senators gave their stamp of approval on legislation that aims to improve pharmacy access for Medicare enrollees and limit cost sharing. The package marks progress in an ongoing bipartisan endeavor to improve transparency and accountability for PBMs, whose practices policymakers believe are opaque and unfair to patients.
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