Regulate PBMs, lower drug costs nationwide modeled on Illinois

The legislation regulating pharmacy benefit managers (PBMs) and lowering prescription drug costs in Illinois sets a positive precedent that federal lawmakers should consider replicating nationwide. PBMs have long operated with minimal oversight, engaging in practices like spread pricing and steering patients to affiliated pharmacies that drive up costs for consumers. This bill prohibits those unfair tactics while requiring PBMs to pass along manufacturer rebates to insurance plans. It also imposes fees to support independent pharmacies in underserved areas. Rapidly rising drug prices remain a critical issue across the country. Bringing transparency and accountability to the PBM industry could help rein in these costs for millions of Americans. Legislation modeled on Illinois' approach has the potential to curb exploitative PBM practices, lower out-of-pocket expenses for prescription drugs, and ensure access to affordable medications, particularly in rural and disadvantaged communities. Federal action to regulate PBMs and promote prescription drug affordability would provide vital relief to individuals and families nationwide.