This bill requires greater transparency when pharmacy benefit managers (PBMs) contract with plans sponsors/employers and provide the Federal Trade Commission with greater enforcement authority to prohibit unfair or deceptive business practices in which pharmacy benefit manager-insurers engage in the commercial health insurance market.
The Honorable Maria Cantwell
Chair
U.S. Senate Committee on Commerce, Science, and Transportation
511 Hart Senate Office Building
Washington, DC 20510
The Honorable Chuck Grassley
United States Senate
135 Hart Senate Office Building
Washington, DC 2051
Dear Chair Cantwell and Senator Grassley:
The undersigned organizations are writing today in support of S. 4293, the Pharmacy Benefit Manager
Transparency Act of 2022, which would require greater transparency when pharmacy benefit
managers (PBMs) contract with plans sponsors/employers and provide the Federal Trade Commission
with greater enforcement authority to prohibit unfair or deceptive business practices in which
pharmacy benefit manager-insurers engage in the commercial health insurance market.
America’s pharmacies and the patients they serve have long had concerns about PBM-insurers, their
anticompetitive practices, and the role they play in ever-increasing drug costs. We appreciate the
longstanding efforts of Chair Cantwell and Senator Grassley to address these practices and the
negative impact they have on patients and the pharmacies that serve them.
We applaud the recent efforts of the Commerce Committee to advance S. 4293 on a bipartisan basis
as this legislation would bring needed transparency to and ultimately stop PBM-insurers’ unjust and
deceptive practices, especially as the three largest PBM-insurers now control at least 80 percent of the
market. We hope the full Senate will soon take up this legislation to empower the FTC to bring
enforcement actions against the consolidated PBM-insurer industry and their anticompetitive
practices, including spread pricing and clawbacks.
Our organizations strongly support passage of the Pharmacy Benefit Manager Transparency Act of
2022 and urge Senate leadership to quickly advance the legislation. We would like to thank Chair
Cantwell and Senator Grassley for your leadership in addressing this issue, and we look forward to
working with you to get this legislation across the finish line during this Congress.
Sincerely,
Bob Carlstrom
President
AMAC Action
