States seek to lower drug prices by targeting the companies that manage them for health plans
Summary
Several U.S. states are trying to lower the cost of prescription drugs by regulating pharmacy benefit managers (PBMs), the companies that handle drug coverage for health plans. Some PBMs also own pharmacies, like CVS, which has been fighting these new rules in court.Key Facts
- States want to reduce drug prices by controlling pharmacy benefit managers (PBMs).
- PBMs manage drug claims for health insurance and negotiate with drug makers.
- Some PBMs, including CVS, also own their own pharmacies.
- At least 12 states have passed laws to limit payments to PBMs and require more transparency.
- Tennessee will ban PBMs from owning retail pharmacies starting in 2028.
- CVS has sued in federal court to stop this Tennessee law and keep its 136 pharmacies open.
- A survey found 6 in 10 U.S. adults worried about affording medications.
- About 4 in 10 adults reported not taking medicine as prescribed due to cost in the past year.
- More than 120 bills about PBMs were introduced in 26 states in 2026.
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