Congress Shouldn't Ignore GAO's Counsel on PBMs

Members of the Senate Finance Committee recently introduced a bill to place more restrictions on how pharmacy benefit managers (PBMs) — the groups that health plans utilize to administer their prescription drug programs — manage Medicare Part D. Unfortunately, their legislation does not adequately consider the Government Accountability Office’s (GAO) past and pending findings concerning the utility PBMs provide in lowering federal entitlement spending.