The answer isn’t government price-setting. It’s restoring the price competition that PBMs have done so much to distort.
Billionaire entrepreneur Mark Cuban has picked another fight with pharmacy benefit managers, the powerful middlemen insurers hire to manage prescription drug benefits.
His complaint is straightforward. The PBM-controlled system makes prescription drugs more expensive than they need to be, even for people with insurance.
At a Texas State House hearing earlier this month, Cuban offered a striking example. Many customers of his online pharmacy, Cost Plus Drugs, already have prescription drug coverage.
“They come to us because our cash price is often lower than what their insurance plan asks them to pay,” he told lawmakers.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.
Mark Cuban: Insurance Can Make Prescription Drugs Cost More
Sally C. Pipes
The answer isn’t government price-setting. It’s restoring the price competition that PBMs have done so much to distort.
Billionaire entrepreneur Mark Cuban has picked another fight with pharmacy benefit managers, the powerful middlemen insurers hire to manage prescription drug benefits.
His complaint is straightforward. The PBM-controlled system makes prescription drugs more expensive than they need to be, even for people with insurance.
At a Texas State House hearing earlier this month, Cuban offered a striking example. Many customers of his online pharmacy, Cost Plus Drugs, already have prescription drug coverage.
“They come to us because our cash price is often lower than what their insurance plan asks them to pay,” he told lawmakers.
“That tells you something is wrong.”
He’s right.
Read the op-ed here.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.