The federal government would have more power to oversee pharmacy benefit managers under a bipartisan bill introduced in the U.S. Senate on Thursday.
The PBM Oversight Act of 2023, sponsored by Sen. Tom Carper, D-Del., and Sen. Chuck Grassley, R-Iowa, would give the Centers for Medicare and Medicaid Services the authority to oversee PBM decision-making. It also would require that PBMs submit detailed information to CMS each year that includes documentation of their interactions with recommendation committees, which are the groups that decide on what will be included in a formulary.
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Alan Goforth
Alan Goforth is a freelance writer in suburban Kansas City. In addition to freelancing for several publications, he has written a dozen books about sports and other topics.
