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Member, Beacon International Group, Ltd.
Pharmacy benefit managers are significantly inflating drug costs for Americans, The New York Times reports. The three largest PBMs – Caremark (owned by CVS Health Corp.), Optum Rx (UnitedHealth Group Inc.), and Express Scripts (Cigna Group) – control 80% of U.S. prescriptions and often prioritize their financial interests over patients' needs, the report says. They push costlier drugs, impose high markups, and extract hidden fees, exacerbating health care expenses. Despite claims of cost-saving, PBM practices have led to higher out-of-pocket costs and limited access to affordable medications.