According to an agency press release, Caremark is one of the biggest pharmacy benefit managers (PBMs) in the United States, acting as the third-party middlemen who oversee prescription drug plans for insurers (and, ultimately, prescription prices). Healthcare Dive explains that allegations leveled against Caremark accused the PBM of preferring more expensive versions of insulin in order to boost up its rebates, thus increasing prices for a lifesaving drug. Caremark and its affiliated entities have agreed to adopt changes to its businesses practices that should, hopefully, decrease out-of-pocket costs for patients while also emphasizing transparency and treating community pharmacies fairly. This includes the requirement that Caremark stop discriminating against wholesale cost versions of a drug, and for the company to “provide a standard offering to plan sponsors that…

Ferguson via the release. “The settlement with Caremark brings billions in real savings to consumers feeling the pinch from excessive prescription drug prices. “And the settlement bars Caremark from interfering with hub pharmacies, which can help identify lowest out-of-pocket options for patients and improve patient access to prescriptions. Today’s action builds on previous wins for President Trump’s healthcare agenda, including innovations like TrumpRX to make prescription drug prices more transparent and affordable for everyone.” “CVS Caremark has led the industry in evolving the pharmacy benefit management model and has delivered value to our customers and clients,” said CVS Health EVP and CVS Caremark President Ed DeVaney via press release. “Today’s agreement advances and reinforces the changes we have already put in place and ensures affordability for families an…