The state had previously taken action against them back in 2018.
COLUMBUS, Ohio — EDITOR’S NOTE: The video in the player above is from a previous story.
Ohio Attorney General Dave Yost will host a press conference Monday morning to announce new developments in litigation against pharmacy benefit managers.
Pharmacy benefit managers (or PBMs) are third-party entities that manage health care plans, in this case, Medicaid. They act as the middleman between you, the insured, and the insurer or the pharmaceutical company. Pharmacy benefit managers also play a huge part in dictating the cost of medications and coverage.
Ohio has a sordid history with PBMs. In 2018, the state canceled its current contracts with them. This forced PBMs to change the way they did business.
In 2018, an audit conducted by then-State Auditor Dave Yost showed consumers in Ohio were being overcharged for their medication. The audit found Ohio Medicaid was billed $223.7 million more for drugs than the PBMs reimbursed Pharmacies to fill those prescriptions. That report claims those savings were pocketed by the PBMs, something they deny. That practice is called “spread pricing,” and it killed competition because it gave preferred treatment to pharmacies that the PBMs own.
The biggest PBM in Ohio is CVS Caremark. It runs four of the five Ohio Medicaid Managed Care Plans.
This is a developing story. Check back with wkyc.com for further updates.
EDITOR’S NOTE: The video in the player below is from a previous story.
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