266 Million: The Number of Americans Receiving their Rx Coverage Through a PBM.
PBMs administer prescription drug plans for more than 266 million Americans who have health insurance from a variety of sponsors including: commercial health plans, self-insured employer plans, union plans, Medicare Part D plans, the Federal Employees Health Benefits Program (FEHBP), state government employee plans, managed Medicaid plans, and others.
Helping Medicare Part D Beneficiaries.
The use of PBM tools, such as lower cost preferred pharmacy plans and encouraging the use of generic and more affordable brand medicines, will save Medicare Part D and its beneficiaries nearly $257 billion.
How PBMs Reduce Drug Costs.
From negotiating discounts and rebates from drugstores and drug manufacturers, to reducing waste, to offering Amazon-style home delivery of medications — PBMs utilize a number of tools to lower drug costs and improve quality.