Pharmacy benefit managers are third party groups that insurers often work with to handle prescription drug programs. But supporters of the new laws say methods those groups use can raise drug costs. Governor Gretchen Whitmer says the legislation will help ensure transparency and fair prices.
“This is a moment where we have created an expectation, a standard and codified it. So now we’ll be able to implement it.”
Critics have said drug manufacturers are more to blame for high drug costs than pharmacy benefit managers. The new laws ban tactics like “spread pricing.” That’s when groups reimburse pharmacies less than an insurer paid for medication.
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