TAPP Urges Congress to Support PBM Reforms

Trade Alliance to Promote Prosperity Executive Director Kent Kaiser, Ph.D., today wrote to members of the U.S. Senate Committee on Finance and U.S. House Energy & Commerce Committee, urging reforms to pharmacy benefits managers (PBMs) in light of the recent cybersecurity attack on Change Healthcare that affected an estimated one-third of Americans. TAPP noted that PBM reforms are needed to combat oligopolistic pricing and oligopolistic vulnerabilities.

TAPP called for U.S. Senators and Representatives to support:

  • More robust competition in health insurance and prescription drug markets.

  • Full transparency in pricing for medical care, health insurance, and prescription medicines.

  • Replacement of PBM formulary designs driven by profit-maximization motives for designs that promote affordable patient access to prescription medicines elected by patients and their doctors. 

Read the full letter here.

Ainsley Shea