President-elect Trump plans to tackle high drug prices by targeting Pharmacy Benefit Managers (PBMs) in the upcoming government spending package. House Speaker Mike Johnson will initiate this effort, aiming to reduce the influence of these middlemen who drive up costs for seniors.
Trump ally Speaker Mike Johnson (R-LA) will start the president-elect’s plan to knock out the big insurance middleman in the end-of-year government spending package. President-elect Donald Trump vowed to take on big Pharmacy Benefit Managers (PBMs) at a Monday press conference at Mar-A-Lago. The horrible middleman that makes more money, frankly, than the drug companies, and they don’t do anything except they’re a middleman. We’re going to knock out the middleman,” said President Trump.
Trump said that Health and Human Services nominee Robert F. Kennedy, Jr. and Center for Medicare and Medicaid Services nominee Dr. Mehmet Oz had discussed reforming PBMs extensively, “These middlemen are, but they are rich as we’re going to knock out the middlemen. We’re going to get drug costs down at levels that nobody has ever seen before, and that really, I tell you, we spend more time talking about that with Bobby and with the executives and Oz, all of them. We spent more time talking about that than anything else.” Trump ally House Speaker Johnson will start “knocking out” the PBM middlemen as soon as this week. Speaker Johnson said the spending bill to clear the decks for the incoming Trump administration and keep the U.S. government operating is almost done. He expects the bill text to be released this week. It could include a critical part of Trump’s healthcare agenda: cracking down on Pharmacy Benefit Manager middlemen who drive up drug prices for seniors. One of the biggest reasons for high prescription prices is Big Insurance PBMs. Three giant PBM middlemen—CVS Caremark, Express Scripts, and OptumRx—control about 80 percent of the entire PBM market and administer drug benefits for over 270 million Americans. PBMs inflate their profits by pushing more expensive medicines when designing formularies and the list of drugs available to their customers
Donald Trump Pharmacy Benefit Managers Healthcare Drug Prices Government Spending
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