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CAPD Statement on GAO Report Showing PBMs Passed Nearly All Part D Rebates to Plans

Today, Debra Barrett, Executive Director of the Coalition for Affordable Prescription Drugs, released the following statement on a new report by the Government Accountability Office (GAO) that found that pharmacy benefit managers (PBMs) passed 99.6% of all Medicare Part D rebates on to plan sponsors, helping plans keep premiums and costs low for seniors:

“The new report from GAO shows how PBMs work to lower the cost of health care for the millions of American seniors who depend on Medicare Part D for their medications. PBMs negotiated $18 billion in rebates from pharmaceutical companies for Medicare Part D plans in 2016, and passed close to 100% of these savings on to plan sponsors, resulting in savings for seniors who rely on these plans for affordable, life-saving care. Through these rebates and other efforts, PBMs and plan sponsors are partnering to help protect seniors from the rising costs of prescription drugs and limit premium increases.”