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PBM executives invited to testify before House panel

Executives from the three major pharmacy benefit manager companies have been invited to testify before the House Committee on Oversight and Accountability next month, four sources familiar with the planning told STAT.

Executives from Optum, CVS Caremark, and Express Scripts, owned by Cigna, were asked to testify before the panel on June 4.

The committee and companies did not respond to requests for comment.

The House Oversight Committee, while it isn’t a primary committee with jurisdiction over health care issues, has taken a particular interest in PBM practices this congressional session. The panel initiated an investigation and has held hearings.

It’s unclear how much impact the hearing could actually have on legislation. The House has already passed legislation that would require more transparency in PBM practices, but the Senate doesn’t seem eager to take it up.

Lawmakers are next eyeing action in December, when a number of health care programs and authorities are expiring.

Ipsita Smolinski, founder and managing director of the consulting firm Capitol Street, said she believes some PBM reforms will pass in December, but not ones that are detrimental to the industry’s business model.

“They are largely Medicare and Medicaid, and provide minimal system savings,” she said.

Executives from the three PBMs testified last year before the Senate health committee about insulin costs.

1 comment

1 Comment

Changes to Medicaid and Medicare would be beneficial if they actually have teeth. They should be of benefit to recipients and to providers.

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